Pemex Reopens Euros for Borrowers

Oct 1, 2009

Pemex pounced on attractive relative pricing in Europe Wednesday with a tightly priced EUR1bn 2017 issue, the first non-sovereign public deal from LatAm in that currency since 2005. The sale targeting European investors priced at 99.311 with a 5.500% coupon to yield 5.623%, or mid-swaps plus 250bp, following 255bp area guidance. Demand reached EUR2.6bn, according to...

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