Mexico City. The government of Mexico made its first issuance of external debt in 2026. The placement for 9 billion dollars represents 12 times more than the net external debt that has been authorized via bonds, but it is just a fraction of the amortizations that the Ministry of Finance and Public Credit plans to make this year.

The agency reported that Mexico made its first issuance in international markets with three new reference bonds for a total amount of 9 billion dollars.

In the operation, in which 279 investors from around the world participated, the maximum demand totaled 30 billion dollars, equivalent to 3.33 times the amount placed through Mexican bonds.

“The high demand observed in this transaction adds to the recent trajectory of historically high levels of participation, which confirms the solid interest in federal government bonds, supported by prudent management of public finances aimed at preserving macroeconomic stability,” the Treasury said in a statement.

He explained that the operation consisted of the issuance of three bonds: one for 8 years, with a coupon rate of 5.625 percent, for an amount of 3 billion dollars; one for 12 years, with an interest rate of 6.125 percent, for 4 billion dollars and another for 30 years, with a rate of 6.75 percent, for a total of 2 billion dollars.

Exactly in the 30 and 12 year bonds, a reduction of 200 basis points was recorded in their cost compared to those issued in 2019 and 2020, which, according to the Treasury “reflects a better credit perception of Mexico’s sovereign risk in the long term by international investors, even in a complex international environment.”

The reported issuance greatly exceeds the net debt expected by the Treasury this year in international capital markets, which is 13 billion pesos (around 725.3 million dollars).

However, the agency plans to make amortizations of 3 billion 259.9 pesos, both in national and foreign currency, shows its Annual Financing Plan, in which the Treasury reports that it seeks to continue with its strategy of limiting its exposure to international markets.

In that document, the Treasury details that it is expected that at the end of 2026, the net internal debt with respect to total obligations will be 84.2 percent, with an average maturity period of 7.9 years; and the external one at 15.8 percent with a horizon of 15.6 years.

As a proportion of the gross domestic product (GDP), the agency projects that at the end of 2026, the net internal debt will represent 42.6 percent, while the external debt will remain at 8 percent.