Related News:
Pemex Sells $1 Billion of Bonds in Third International Offering This Year
Petroleos Mexicanos, the state-owned oil monopoly, sold $1 billion of bonds maturing in 2035, its third dollar debt sale this year.
Pemex, as the Mexico City-based company is known, sold the 6.625 percent bonds to yield 5.975 percent, according to data compiled by Bloomberg. Bank of America Corp. and Credit Suisse Group AG arranged the offering.
The Mexico-City based company is tapping the market after growing demand for emerging-market assets drove the yield on the notes to a record low 5.64 percent on Aug. 20, according to data compiled by Bloomberg. The yield climbed to 5.74 percent today. Pemex is seeking to finance at least half of its $19 billion capital budget in local and international debt markets this year as the company attempts to reverse a decline in output.
Eduardo Marin, a Pemex spokesman in Mexico City, didn’t return a phone call and e-mail seeking comment.
Pemex has raised $3 billion in international bond markets this year, having issued debt in January and July.
To contact the reporters on this story: Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net
Rate These Stories
Rate this Page