Kexim Retaps Peso Bonds

The Export-Import bank of Korea (Kexim) has retapped for MXP1.1bn its 8.61% of 2017 Mexican peso-denominated bonds. An MXP800m tranche priced at 99.23 to yield 8.73%. It follows a MXP300m tranche that priced last week at 98.16 to yield 8.90%. The transaction was rated A+ by Fitch. Merrill Lynch managed the sale, a retap of an MXP1bn offer done in October. Kexim also placed in January MXP1.2bn in 2013 floaters at TIIE plus 30bp.