Pemex Unleashes Record Local Sale
Pemex has raised MXP25bn ($1.92bn) in Mexico’s domestic bond market, in a three-tranche offering that is the issuer’s, and possibly the country’s, largest-ever domestic sale. The transaction, moved forward from the end of this week, likely caps off a large and diverse 2012 fundraising effort. A new MXP11.5bn 2017 floating-rate bond priced at TIIE+18bp, inside of analyst expectations of TIIE+25bp and drawing 1.5x demand, according to sources familiar with the sale. A MXP10bn reopening of the 7.65%-coupon...
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