IDB To Launch Mexican-denominated Paper

The Inter-American Development Bank (IDB) is planning to issue global bonds denominated in Mexican pesos. The amount to be issued is reported to be equivalent to around $240 million. The last time the IDB issued peso-denominated paper was last October when it sold Ps1 billion ($93 million) of 10-year securities offering a rate of 8.67%. In 1994 the bank became the first international issuer to launch a global bond denominated in Mexican pesos. The upcoming deal will be arranged by Credit Suisse.