United Mexican States Launches Debut Euro-denominated Global Bond Via J.P. Morgan and Paribas.NEW YORK--(BUSINESS WIRE)--June 22, 1999-- J.P. Morgan and Paribas announce that today at 2:45pm GMT (Greenwich Mean Time) See UTC. GMT - Universal Time 1 they jointly led the launch of a debut Euro denominated global bond for the United Mexican States (BB/Ba2). This new issue is a EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 400 million 7 3/8% global bond. which matures in seven years on July 6, 2006. The bond was launched at a spread of 337.5 basis points over the Bund 6.25% due April 06 and priced at 99.18%. This offers an investor yield of 7.53%. The issue sold well across a broad base of investors in continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. , the United Kingdom and into the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Mexico is a rare issuer in Euros and the global format of this bond was especially attractive in the U.S. The bond was upsized to EUR400 million from an original target of EUR300 million due to strong investor demand. The issue builds on a recent string of positive credit news for Mexico. Mexico is among Latin America's strongest credits and was recently put on review for potential upgrade by Moody's. Moody's cited two issues as major contributions to its analysis: the extensive integration of the Mexican economy with the U.S.; and the recent successful negotiation by the Mexican government of a significant multilateral mul·ti·lat·er·al adj. 1. Having many sides. 2. Involving more than two nations or parties: multilateral trade agreements. package (including US$ 4.2bn from the International Monetary Fund) to buffer against any volatility that may surround the elections next year. For further information on the issue please contact : Peter Sweatman, J.P. Morgan Securities at (212) 648-1484 or Susan Dingilian, Paribas at (212) 841-5095. Today's issue follows a series of highly successful bond issues for emerging market countries led by J.P. Morgan. So far this year, J.P. Morgan has led more than US$6.5 billion in benchmark deals for emerging markets issuers including: The Philippines, the Philippines, The (fĭl`əpēnz'), officially Republic of the Philippines, republic (2005 est. pop. 87,857,000), 115,830 sq mi (300,000 sq km), SW Pacific, in the Malay Archipelago off the SE Asia mainland. Republic of Argentina, the Republic of Colombia, the Republic of Panama, the State of Qatar and the Korea Development Bank Korea Development Bank (KDB), a wholly state-owned policy bank, was founded in 1954 in accordance with The Korea Development Bank Act for the purpose of financing and managing major industrial projects to expedite industrial development and enhance the national economy. . Additionally, the company has led US$925 million in reopenings of existing emerging market bonds in 1999, including US$500 million for the United Mexican States. |
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