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Mexico Announces Debt Tender Offer, To Issue New 30-Year $Benchmark

MEXICO
  • NEW DEAL: Mexico $Benchmark 30Y +300 Area -- Expected to price today. Detail via Bloomberg:
    • $Benchmark 30Y Fixed (May 4, 2053) IPT +300 Area
    • Exp. Ratings: Baa2/BBB/BBB-
    • Format: SEC registered, senior unsecured
    • 6-month par call, MWC
    • UOP: Mexico intends to use the net proceeds from the sale of the notes to retire outstanding indebtedness of Mexico, pursuant to the tender offer
    • Settlement: April 28, 2023 (T+6)
    • Denoms: 200k x 1k
    • Bookrunners: Citi, HSBC, Mizuho, MS
    • Eligible Sustainable Expenditures: Mexico intends to allocate an amount equal to the proceeds from the sale of the notes to budgetary programs that qualify as eligible expenditures under the SDG Sovereign Bond Framework and that are included in Mexico’s federal budget for the fiscal year 2023

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