Mexico follows Chile into primary, sells $2.25 billion bonds; Korea’s Woori Bank does deal

By Aleesia Forni

New York, Jan. 13 – United Mexican States sold $2.25 billion of 10-year notes amid an improvement in market sentiment on Wednesday.

The sovereign’s bond comes on the heels of Tuesday’s $1.3 billion bond from Chile, which sold inside initial price thoughts.

In other primary happenings, Korea’s Woori Bank sold $500 million of five-year notes.

Mexico priced $2.25 billion of 4 1/8 % global medium-term notes, series A, due Jan. 21, 2026 on Wednesday at Treasuries plus 210 basis points, according to a market source.

Pricing comes at the tightest side of guidance set in the Treasuries plus 215-bps area.

Chile disclosed details on its $1,349,122,000 offering of 3 1/8% 10-year notes (Aa3/AA-/A+) that priced at Treasuries plus 130 bps in an FWP filed Wednesday with the Securities and Exchange Commission.

Pricing was at 97.627 to yield 3.407%.

The notes were talked at Treasuries plus 140 bps.

Moving to Asia, Korea’s Woori Bank sold $500 million 2 5/8% notes due July 20, 2021 (A1) at Treasuries plus 112.5 bps, a market source said.

The notes were talked in the 115-bps area over Treasuries.

In other news, Ukraine’s corporate bonds were mostly unchanged on light activity, a market source said.

Sovereign bonds, meantime, slowed their recent gains to close mostly flat.

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