Mexico remains the undisputed nerve center of securitization in Latin America. Since the last week of March, the peso market has absorbed Ps2.9 billion ($259 million) in structured deals, while the pipeline bodes well for activity over the next couple of months.
In the toll-road sector, operator Concesionaria de Carreteras Autopistas y Libramientos de la Republica Mexicana issued a 15-year final transaction for 298 million inflation-indexed units (UDIs), which currently add up to roughly Ps1.1 billion. The transaction priced at a real rate of 6% and was sole led by Inversora Bursatil. Rated Aa3.mx' by Moody's Investors Service, the deal is backed by tolls generated along a 238-kilometer stretch of highway connecting the city of Tepic in the state of Nayarit and Villa Union in Sinaloa.