October Launch For Mexico’s 30-Year Peso Bond

Mexico has said it will launch its planned 30-year local-currency denominated bond later this month. The sovereign is hoping to sell $180 million of the new bond on October 24. The bond, the longest-tenor domestic bond yet to be issued, is part of a strategy to move more of the country’s debt into the domestic market. Less frequent refinancing will also cut borrowing costs. Mexico first issued a 20-year domestic bond in 2003.