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Veracruz eyes public works slated for 2004: State to tap payroll taxes in Ps450 million securitization

The Mexican state of Veracruz is getting a head-start on 2004. Looking to finance some of next year's capital projects before the current governor leaves office, the issuer is securitizing payroll taxes in a Ps450 million (US$42 million) deal. Protego Asesores has structured the transaction and Grupo Bursatil Mexicano...

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