DF Preps Domestic Debt

The government of Mexico’s Distrito Federal will look to issue up to MXP3bn ($227m) in the domestic bond market November 21, according to a selling memo. The 10-year fixed-rate bonds are backed by future revenues passed down from Mexico’s federal government. The capital’s government is raising money to fund infrastructure projects and to repay debt. Santander is managing the transaction, rated AAA on a national scale. In November of last year, DF sold MXP2.5bn in 15-year bonds at 6.85%, or Mbonos+85bp.