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Pemex Gets $3.25 Billion of Credit From 25 Banks, Reuters Says

Petroleos Mexicanos secured $3.25 billion in credit from 25 banks, Reuters reported, without saying where it got the information.

The amount includes a $1.25 billion line of credit for three years with banks including Bank of America Corp., Barclays Plc and JPMorgan Chase & Co., plus a $2 billion, five-year loan from Citigroup Inc. and HSBC Holdings Plc and other banks, Reuters said.

The line of credit pays interest of 1.25 percentage points more than the London interbank offered rate, or Libor, while the five-year credit has a rate of Libor plus 1.5 percentage points, Reuters said.

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