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MEXICO CITY, Mar 5 (Reuters): Mexico cut the cost of its external debt Friday, buying back $2.9 billion of mostly high coupon global bonds and issuing $3.0 billion in cheaper paper.
The finance ministry said it bought back about $2.9 billion in global debt due to mature between 2007 and 2031, most of it costly paper with coupons as high as 11 per cent.
Earlier in the day, Mexico sold $3.0 billion in global bonds due 2017 with a coupon of 5.625 per cent and a yield of 5.736 per cent in a deal.
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