Petroleos Mexicanos, the world’s fourth-largest crude producer, sold $2 billion of 10-year bonds in overseas markets today.
Pemex, as the state-owned company is known, sold the bonds to yield 1.7 percentage points more than U.S. Treasuries, according to data compiled by Bloomberg. Banco Bilbao Vizcaya Argentaria SA, Citigroup Inc. and JPMorgan Chase & Co. managed the transaction.
The offering ends the longest drought in Mexican corporate sales since June 2010, according to data compiled by Bloomberg. Grupo Kuo SAB and Mexicana Generadora de Energia were the last companies from the country to sell debt, issuing a combined $900 million of bonds abroad Nov. 29.
The yield on Pemex’s $1 billion of 2044 bonds has risen 0.22 percentage point to 5.04 percent since they were issued Oct. 12. The state-owned oil company sold $6.5 billion of bonds in international markets last year, making it Mexico’s second-biggest issuer after billionaire Carlos Slim’s America Movil SA .