Mexico To Swap Dollar Debt

Mexico announced Monday it will swap nearly $9 billion of its dollar debt into longer-term, more liquid, global bonds maturing 2034. The debt swap continues a strategy started by the previous Fox administration of buying back more expensive short-term debt in exchange for longer-dated paper. The swap offer includes five illiquid global issues between 2019 and 2033 and includes buying back up to $500 million of the bonds. The offer expires on January 11.