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Pemex Benchmark Sees $8bn Demand

Jan 24, 2013

Pemex priced a new $2bn 2023 bond Wednesday, getting $8bn in orders as it took a sizeable bite out of its 2013 financing needs. The UST+170bp yield comes versus a level UST+160bp level seen on the Mexican state-owned oil company’s 2022s. The Baa1/BBB bond priced at 99.724 with a 3.500% coupon to yield 3.533%, tight to UST+185bp-area...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

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