Pemex Fuels Up with Long Bond
Pemex has made a return to the bond markets to raise a $1.75bn 2044 bond, getting $6.5bn in demand and one of the lowest-ever coupons for a long-dated LatAm corporate bond. In a tricky market open to the region’s highest-rated issuers, the Baa1/BBB senior unsecured bond priced at 99.552 with a 5.50% coupon, to yield 5.53%, or UST+280bp, at the tight...
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