Monday, July 26, 2010
Investment firms seek to raise up to $1.3 bil for Mexico’s infrastructure
Prudential Financial Inc.’s Mexican unit and three other investment companies will seek to raise as much as 16.3 billion pesos ($1.28 billion) by the end of September from the government and pension funds.
The four trusts will use the money to finance real estate and transportation infrastructure projects in Mexico. Alonso Garcia Tames, chief executive officer of the development bank known as Banobras, and Federico Patino, head of the national infrastructure fund known as Fonadin, spoke to reporters about the new round of securities’ sales on July 23.
The offerings will be the second this year under a plan Mexican President Felipe Calderon introduced last year. Calderon wants to increase private financing of road, bridge and real estate projects by tapping the 1.28 trillion pesos held by the nation’s pension funds.
-Bloomberg
For the full story: www.bloomberg.com
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