The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Deals of the year 2001: Latin America

Global:  Deals of the year 2001: The landmark deals of 2001


Regional:  Western Europe  Central & eastern Europe North America Latin America Asia



Latin America
BEST Sovereign Bond

Winner: United Mexican States

Deal: 30-year sovereign bond

Amount: $1.5 billion

Date: August 2001

Bookrunners: Goldman Sachs, Citigroup/Salomon Smith Barney


When Mexico issues debt these days, it's an easy sell. Its financing needs are moderate and it has a captive audience of US crossover investors who love its emerging-market spreads and are convinced by the country's increasing integration into north America.


So when Goldman Sachs and Citigroup/Salomon Smith Barney launched Mexico's first 30-year bond since 1996, they knew it wouldn't be hard to shift. In fact, they received orders worth over $3 billion in six hours - in the middle of August, no less - and ended up issuing $1.5 billion of bonds.


There was certainly a need for a new long bond on Mexico's curve. The 2026s were not a good benchmark, since they were trading at a dollar price of about 120, which depressed interest in them. The market also wanted an easy benchmark from Mexico that it could compare with the 30-year bonds Argentina and Brazil issued in 2000 and 2001.






You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree