Mexico is world's only 100-year bond issuer

Mexico City

MEXICO has sold 100-year bonds abroad on five occasions since 2010. Denominated in three different currencies, the deals raised almost US$6 billion in all.

The rest of the world's governments have sold none.

What do Mexican officials see that no one else does?

The answer, analysts say, is a combination of the government's decades-long effort to extend debt maturities to avoid a repeat of its 1994 peso crisis, and a legacy of technocrats from the country conjuring up exotic financing strategies. Since the 100-year securitie…