RCO structured deal drives Mexican peso innovation
LatAm bankers hailed the depth and growing maturity of the local currency markets as Mexican road concessionaire Red de Carreteras de Occidente (RCO) sold Ps7.5bn ($602m) of amortising bonds with a final maturity of 2028 on Wednesday.
The bond, secured against road tolls, was the first structured deal of its kind in the global peso market.
"Previous peso issuances have been from companies like América Móvil and Televisa that are well-known to analysts and investors," said one syndicate banker. "This is not a mega-cap company and
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