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Emerging MarketsEM LatAm

Mexico joins 20 year club with new issue set to reach $3.26bn

Mexico, peso, 20 pesos, currency, FX, LatAm, notes, 575

Mexico on Tuesday became the second Latin America sovereign to use the 20 year US Treasury bond as a benchmark for a new issue, initially raising $2.5bn of 2041 notes to finance a tender offer. Later in the evening, the sovereign said it would likely increase the size of the 2041s to $3.26bn, with holders of old bonds set to switch into the new notes.

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