Mexico goes to Europe for second debt sale of 2020

• Mexico went to the euro-denominated market on Monday for its second bond sale of the year, raising €1.75 billion ($1.95 billion) in a two-part deal that was 3.8 times oversubscribed
• The ministry said it sold €1.25 billion in new 2030 notes with a coupon of 1.125%, a record low in euros, and added €500 million to its 2.375% 2039 notes. The 10-year notes priced at 99.468 to yield 1.241%, while the 2039 retap priced at 107.873 to yield 2%.
• Mexico opened the initial price talk on the new 10-year bonds at 125 basis points to 130 basis points over mid-swaps and launched at 110 basis points to 115 basis points. It also started the 2039 retap at a yield of 2.15% to 2.2% and launched the deal at 2% to 2.05%.

(Source: Latin Finance)