MEXICO CITY, June 24 (Xinhua) -- In a major debt market move, Mexico raises 6.8 billion U.S. dollars through long-term fixed-rate bonds, signaling a strategic pivot in its borrowing approach, the Finance Ministry said Tuesday.

The operation reduced by 15 percent the country's dollar-denominated external market debt maturing between 2027 and 2031, strengthening Mexico's debt portfolio, the ministry said in a statement.

"With the participation of 240 institutional investors worldwide and peak demand of 19 billion U.S. dollars, the transaction reflects continued investor confidence in Mexico's economic and fiscal management," it noted, "even amid global market volatility."

The transaction was structured in three parts. It included the issuance of two new benchmark bonds maturing in 2032 and 2038, for 3.95 billion and 2.85 billion U.S. dollars, respectively.

Proceeds were also used for an early repurchase of a bond maturing in 2026 and to refinance 2.5 billion U.S. dollars in bonds due between 2027 and 2031 through exchanges into the new benchmarks.

The finance ministry described the operation as part of a "proactive and responsible" refinancing strategy aimed at reducing financing risk and favoring long-term, fixed-rate debt.

Mexico retains investment-grade ratings from all three major credit agencies -- Moody's, Standard & Poor's, and Fitch Ratings -- thanks to a prudent macroeconomic policy framework and strong external finances in recent years. ■