Deals of the year 2007: Mexico motors on local-currency deal

The funding of the purchase of Ps37.1 billion in toll road concessions demonstrates the growing maturity of the local-currency market in Mexico.

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Sponsor and borrower: Red de Carreteras de Occidente
Total loan facility: Ps37.1 billion ($3.3bln)
Tenor: Seven years
Closing of financing: October 2007
Sole structurer and underwriter: Santander Mexico



Octaviano Couttolenc, Santander Mexico

“This sets a very strong precedent for future deals”
Octaviano Couttolenc, Santander Mexico

Despite Mexico’s investment-grade rating, the country’s crumbling infrastructure is one of the reasons why it is still viewed as an emerging market.

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