Markets give Mexican president a vote of confidence

The new Mexican government made its debut in international markets by placing a $2 billion bond issue that represented a vote of confidence for President Andrés Manuel López Obrador.

The issue was of a 10-year reference bond with a coupon of 4.5 percent. Demand came to $8 billion, the original amount of the issue. Some 320 institutional investors took part.

The government said that the transaction was in line with the strategy announced on January 14 in the 2019 Financial Plan.