by Amruth Sundarkumar | Sep 23, 2021 | Corporates
Mexico is looking to allocate the $7bn of international reserves from the $12bn that the IMF transferred to the country’s central bank to other purposes over paying down debt of Petroleos Mexicanos (Pemex), the country’s most costly debt, as per sources. Originally,...
by Amruth Sundarkumar | Aug 12, 2021 | Sovereigns
Mexican President Andres Manuel Lopez Obrador (AMLO) said that his administration could use part of the recently approved $12bn IMF reserves to pay Mexico’s debt. The IMF on August 2 approved a $650bn allocation of IMF Special Drawing Rights (SDR) effective August 23....
by Amruth Sundarkumar | Jun 25, 2021 | Sovereigns
Banxico, Mexico’s Central Bank unexpectedly switched to monetary tightening by raising its benchmark interest rate to 4.25% after a 3-2 split vote amid an inflation spike. All 23 economists surveyed by Bloomberg were surprised by the decision as Banxico is battling...
by bondevalue | Apr 8, 2021 | Sovereign Bonds
Mexico agreed to repurchase $701mn in outstanding 2023s and 2040s, financed by the proceeds from Tuesday’s $2.5bn new 20Y bond issue at a yield of 4.285%, or T+205. In the buyback, Mexico seeks to repurchase $158mn in 6.75% 2034s and $143mn in 4% 2023s. Mexico also...
by bondevalue | Apr 7, 2021 | Sovereign Bonds
Mexico raised $2.5bn via a 20Y bond at a yield of 4.285%, or T+205bp, 35bp inside initial guidance of T+240bp area. The bonds received orders over $5.6bn, ~2.24x issue size with proceeds from the issuance used to repurchase notes from nine series of outstanding bonds,...
