Mexico in Brief
From Mexico in Brief Newsletter
CFE PLACES GLOBAL BONDS.
The Mexican Comisión Federal de Electricidad, or CFE, concluded the placement of a redeemable bond, raising approximately U.S.$615 million in the Formosa market, the Taipei Stock Exchange (TPEx) and the Luxembourg Stock Exchange, Proceeds are intended to be used for the financing of electric infrastructure projects under the Financed Public Works scheme.
MEXICAN COMPANIES CONTINUE ACTIVE IN THE INTERNATIONAL MARKETS.
Mexico-based banking and financial services holding company, Banorte, successfully concluded the issuance of Perpetual Capital Notes for a total amount of approximately U.S.$1.1 billion. Additionally, Mexico-based real estate trust Terrafina announced the issuance of unsecured senior notes for approximately U.S.$500 million with a 10-year maturity.
ALTUM ISSUES CKDS.
Altum Capital, Mexico-based collateralized private debt fund, carried out the placement of Capital Development Certificates, or CKDs for a an amount of approximately U.S.$95 million. The placement was made through the new Mexican stock exchange, Bolsa Institucional de Valores, or BIVA.
NEW SIGNIFICANT LOGISTCS’ INFRAESTRUCTURE COMING TO THE STATE OF NUEVO LEON.
With an investment of approximately U.S.$153 million, the Governor of the Mexican State of Nuevo Leon announced the construction of the much expected La Gloria-Colombia highway, a tranche which will complete a more direct connection between Monterrey and the Nuevo Leon border of Colombia, near Laredo, Texas. The new road is a significant piece of infrastructure which is expected to attract additional foreign investment and boost the development of the Nuevo Leon-Texas border.
MAJOR INVESTMENT ANNOUNCED IN THE MEXICAN STATE OF YUCATAN.
The Mexican State of Yucatan announced that it has confirmed the attraction of several separate investments which jointly amount to approximately U.S.$960 million, coming from nine domestic and international companies operating in various sectors, such as real estate and agribusiness. Such amount includes an investment of approximately U.S.$351 million of Mexico-based conglomerate Kuo Group for the expansion of new lines in its food processing plant in the State.
MINING COMPANIES TO INVEST IN DIFFERENT STATES OF MEXICO.
According to the annual report of the Mining Chamber of Mexico, or CAMIMEX, new gold production projects in the Mexican states of Zacatecas, by Aura Minerals and Candelaria Mining; Sonora, by Mexus Gold; Chihuahua, by the Sierra Metals; and Jalisco, by Endeavour Silver Corporation, will jointly involve an investment of approximately U.S.$326 million this year.
NEW FOREIGN INVESTMENT IN THE MEXICAN STATE OF TAMAULIPAS.
With an investment of approximately U.S.$80 million, the Government of the Mexican State of Tamaulipas reported the startup of India-based Indo-MIM Pvt and England-based Delphi Technologies, which are two new assembly plants, or maquiladoras. Japan-based Nidec Motor Corp., also announced that it will carry out an expansion project in its Tamaulipas plant.
MANZANILLO PORT TO BE EXPANDED.
The Mexican Ministry of Communications and Transportation, or SCT, reported that with an investment of approximately U.S.$1.2 billion coming from both public and private sources, the Port of Manzanillo will be expanded in the Cuyutlan Lagoon, where new terminals will be added, specializing in the transportation of agricultural and mineral bulk containers, and hydrocarbons.