Alpek buyers withstand 50bp price squeeze

Alpek, plastic, squeeze, bottle, Mexico, spread, pricing, LatAm, 575
By Oliver West
18 Feb 2021

Mexican petrochemicals producer Alpek shrugged off a sharp sell-off in US Treasury yields earlier in the week to notch a highly oversubscribed 10 year bond in the only public benchmark new issue from Latin America this week.

Global coordinators Bank of America, Citi and JP Morgan set initial price thoughts at 250bp over US Treasuries on Thursday for Baa3/BB+/BBB- rated Alpek’s 144a/Reg S 10 year bond maturing in February 2031.

Alpek was seeking up to $600m of funding, with proceeds slated to ...

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