MEXICO CITY, April 9 (Reuters) - Mexico placed a 1.6 billion euro ($2.09 billion) bond on Tuesday, securing its biggest-ever issue in the euro currency as well as a record low yield, the finance ministry said.
The 10-year bond with a coupon of 2.75 percent priced with a yield of 2.81 percent, and saw 2.8 times the demand of the amount on offer, the finance ministry said in a statement.
Mexico swapped 459 million euros of less-liquid debt with shorter maturities for the new bond, the ministry said.
Mexico last issued debt in euros in mid-2010, when it placed 850 million euros in seven-year bonds, according to IFR, a Thomson Reuters service.
Latin America’s second biggest economy issued about $5 billion of new foreign currency debt in 2012, including a landmark unsecured yen bond worth about $1 billion. Strong demand helped Mexico clinch record low interest rates.
Mexico’s Congress has approved foreign currency debt issues of up to $7 billion for 2013, and the government already issued $1.5 billion in 30-year dollar bonds in early January.