Mexico seeking opportunities to tap debt markets

3/24/2017 Reuters

4350685550_dbd28c7e50Mexico is closely looking for windows of opportunity to issue more debt and improve its loan portfolio, Finance Ministry Undersecretary Vanessa Rubio said in an interview on Thursday.

Mexico last week announced a new $3.15 billion 10-year bond issue, its first transaction in the dollar bond market this year. This follows a bounce in emerging market assets following relatively dovish talk by Federal Reserve head Janet Yellen.

“Our debt issuances in international debt markets have been highly valued and we’re not obligated to issue any more because our debt requirements have been met,” Rubio told Reuters on the sidelines of a banking conference in the seaside-resort city Acapulco. “Still, we’re monitoring market conditions to see if there are windows of opportunity to take advantage of to improve our position.”

Mexican issuers had stayed clear of the dollar market in 2017 as heated rhetoric over U.S. President Donald Trump’s trade policies pummeled both the peso and debt prices.

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