Femsa notches tightest 2050 tap yet despite higher spread

Tecate, lager, beer, cerveza, Heineken, Femsa, Fomento Economica Mexicano, LatAm, 575
By Oliver West
23 Jun 2020

Mexican conglomerate Fomento Económico Mexicano (Femsa) turned to international bond markets for the third time this year20 on Monday, clinching its tightest dollar funding of the year despite wider spreads.

Citi, Goldman Sachs and Morgan Stanley announced a reopening of A-/A rated Femsa’s 3.5% 2050s first thing, setting initial price thoughts at 225bp over US Treasuries. 

The company, the largest shareholder in bottling company Coca-Cola Femsa, attracted $3bn of demand, said a banker close to the ...

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