Mexico begins marketing multi-tranche samurai bonds

The Government of the United Mexican States, rated A3/BBB+/BBB+, has begun marketing three and five-year samurai bonds at respective ranges of 0.40 percent to 0.50 percent and 0.70 percent to 0.80 percent.

Daiwa, Mitsubishi UFJ Morgan Stanley and Nomura are joint lead managers.

The transaction is expected to price as early as next Thursday.

Mexico's last samurai was a 60 billion yen (US$592 million) print in July 2014 that included its first 20-year tranche.