MEXICO CITY, July 24 (Reuters) – Mexico’s government said on Wednesday that it raised $3.6 billion on international markets, saying it will use the proceeds from the bond placement to improve its debt maturity profile for the coming years.
The Finance Ministry said in a statement that it reopened a 2029 dollar bond, raising $1.5 billion, and issued a new 30-year bond, maturing in 2050, for $2.1 billion.
With the funds, the Treasury said in a statement that it withdrew a dollar bond in January 2021 for $933 million and also exchanged outstanding bonds, also denominated in dollars, for some $2.5 billion.
Total demand for the bonds was $9.5 billion, more than 2.6 times oversubscribed, and attracted “217 institutional investors from America, Europe, Asia and the Middle East,” said the Finance Ministry. (Reporting by Ana Isabel Martinez; Writing by Anthony Esposito; editing by Diane Craft)
Source: Read Full Article