LONDON, Feb 16 (IFR) - The United Mexican States has started marketing a dual tranche euro-denominated benchmark-sized bond issue, according to a source.
The sovereign is offering a six-year tranche to investors at initial price thoughts of 190bp area over mid-swaps, while a 15-year is being marketed at 255bp area over mid-swaps.
The funds will be used for general purposes for the government of Mexico.
Barclays, BNP Paribas, Credit Suisse and UBS are running the SEC-Registered transaction.
Books are open and the trade is expected to be Tuesday’s business.
Mexico is rated A3 by Moody’s and BBB+ by Standard & Poor’s and Fitch. (Reporting by Michael Turner)