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Issuers struggle over what concessions investors will require
Issuance in March was never going to be hefty after a record start to the year
Government borrowing costs are rising on local and international markets, and credit ratings are falling
Sovereign also added $300m to a long-dated dollar note
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The food maker made its bond market debut in May
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Principal repayments coming due but Bolivia's foreign exchange coffers are bare
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Sovereign is working to diversify its funding sources, including with an unprecedented loan
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◆ Mexico throws Pemex innovative debt lifeline ◆ Callable ZCs in vogue for public sector issuers ◆ Why ECB regs update will drive insurance capital issuance
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Reform will be very painful, but worth it
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Investors have praised the deal, and Pemex's spread to the sovereign has crunched tighter