Bernanke rate prediction opens door for Mexican century
Mexico capitalised on investor demand for long dated high-yielding paper on Wednesday by issuing a $1bn tap of its 100 year bond, driven by reverse enquiry. Comments on Tuesday from Federal Reserve chairman Ben Bernanke that rates would stay low until 2013 prompted a flurry of interest in high yielding bonds.
"It was certainly a bold deal in the present conditions, and to secure long term funding at cheaper rates in a choppy market is a great result," said one banker working on the deal.
Credit Suisse and Goldman Sachs led the deal, which was priced at 96.5 to yield
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