Mexico’s Yorio says dollar blow-out eases local market pressure

Mexico, Mexico City, LatAm, sovereign, coronavirus, disinfect, 575
By Oliver West
23 Apr 2020

Mexico’s deputy finance minister told GlobalCapital that proceeds from Wednesday’s $6bn blow-out bond would not be used to help state oil giant Pemex, despite several investors believing the government needed to issue more to prop up the debt-laden company with oil price having crashed in the wake of the coronavirus pandemic.

On the back of its biggest ever order book of $28.5bn, Mexico printed a total of $6bn in five, 12 and 31 year bonds on Wednesday in a deal that the government said did “not represent additional indebtedness” to what had already been authorised by Congress in this ...

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