MEXICO CITY, June 25 (Xinhua) — In a serious debt market transfer, Mexico raises 6.8 billion U.S. {dollars} by means of long-term fixed-rate bonds, signaling a strategic pivot in its borrowing method, the Finance Ministry mentioned Tuesday.
The operation diminished by 15 p.c the nation’s dollar-denominated exterior market debt maturing between 2027 and 2031, strengthening Mexico’s debt portfolio, the ministry mentioned in an announcement.
“With the participation of 240 institutional buyers worldwide and peak demand of 19 billion U.S. {dollars}, the transaction displays continued investor confidence in Mexico’s financial and financial administration,” it famous, “even amid world market volatility.”
The transaction was structured in three components. It included the issuance of two new benchmark bonds maturing in 2032 and 2038, for 3.95 billion and a couple of.85 billion U.S. {dollars}, respectively.
Proceeds have been additionally used for an early repurchase of a bond maturing in 2026 and to refinance 2.5 billion U.S. {dollars} in bonds due between 2027 and 2031 by means of exchanges into the brand new benchmarks.
The finance ministry described the operation as a part of a “proactive and accountable” refinancing technique aimed toward lowering financing danger and favoring long-term, fixed-rate debt.
Mexico retains investment-grade rankings from all three main credit score businesses — Moody’s, Standard & Poor’s, and Fitch Ratings — because of a prudent macroeconomic coverage framework and powerful exterior funds in recent times.
