Mexico’s central bank made an announcement Tuesday revealing the nation’s success in raising 25 billion pesos or $1.95 billion in American dollars from the sale of 10-year bonds by a consortium of banks.
Bonds set for June 2020 sold at 102.39619 with a yield of 7.66 percent according to the announcement. The move was a strategic one presumably aimed to help Mexico gain entrance into Citigroup’s major global bond index in the future. This was the nation’s first instance of a sale of this kind. Prior to this syndicated sale, only fewer long-term bonds were offered at auction. Mexico is looking to entice more powerful buyers.
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