Mexico back to dollars as Trump team softens stance

Mexican celebrating px230 x 150
By Oliver West
16 Mar 2017

Mexico issued in dollars for the first time since the US presidential elections on Thursday. Bankers said the sovereign had been able to take advantage of an improvement in market sentiment based on hopes that US president Donald Trump’s policies towards the country might not be as harsh as feared.

Even though Latin American new issue markets have enjoyed one of their busiest starts to a year, no Mexican issuers had sold dollar-denominated bonds in 2017 before the sovereign announced its trade on Thursday morning. Pemex, Nemak and Sigma Alimentos had all issued internationally — but in euros.

Mexico ...

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