Mexico Sells $2 Billion of Dollar Bonds Due in 2044 in Overseas Markets

Mexico, Latin America’s second- largest country, sold $2 billion of dollar-denominated bonds, tapping into record low borrowing costs for its second international offering this year.

The government issued the 32-year bonds to yield 4.84 percent, or 170 basis points above similar-maturity U.S. Treasuries, according to data compiled by Bloomberg. The average yield on the country’s dollar-denominated government debt fell to a record low 4.29 percent on March 2 from 5.18 percent a year earlier, according to data compiled by JPMorgan Chase & Co.

The sale brings Mexico’s dollar debt issuance to $4 billion this year, the most among emerging-market sovereign borrowers.

“It’s still a good moment to lock in low absolute funding” costs, Siobhan Morden, head of Latin America strategy at Jefferies & Co. Inc. in New York, said in a telephone interview from New York.

Mexico is rated Baa1 by Moody’s Investors Service and BBB by Standard & Poor’s. Citigroup Inc. and HSBC Holdings Plc managed the sale, Bloomberg data show.

To contact the reporters on this story: Boris Korby in New York at; Ben Bain in Mexico City at

To contact the editor responsible for this story: David Papadopoulos at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.