Peñoles mines for dual tranche dollar deal

Mexico, Penoles, mining, metals, gold, silver, LatAm, 575
By Oliver West
31 Jul 2020

Mexican miner Industrias Peñoles sold $600m of bonds on Thursday to keep Latin American primary markets ticking over as sell-side bankers expect only a trickle of deals from the region until September.

Leads Bank of America and JP Morgan set initial price thoughts at 3.625% area for a reopening of Peñoles’ $550m of 4.15% 2029s, and low 5% area for a new benchmark maturing in August 2050.  

One banker away from the deal heard the bond was “several times” ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial