Mexico Sells Historic 30-Year Peso Denominated Bonds

The Mexican government sold $184 million worth of peso denominated bonds Tuesday, making it the first Latin American country to sell local debt with such an extended maturity. The bonds sold to yield 8.08 percent and investors bid for 6.3 times the amount offered. The sale cements Mexico’s comeback from the 1994 devaluation that sent the economy into a tailspin. Local pension funds, which are restricted from investing a large portion of their portfolio in stocks, were likely the largest buyers.