Pemex Contractor Prices Rig Debt

Pemex Contractor Prices Rig Debt

Mexico Bonds

Mexican oil services provider Oro Negro has raised a $175m 2014 bond to partially finance a jackup rig, according to people familiar with the terms. The bond, issued through the Oro Negro Fortius entity, priced at par with an 8.70% coupon. The bond features an interest rate step-up of 300bp from February 2014 through the October 2014 maturity. Ultimate parent Integradora de Servicios Petroleros Oro Negro started operations in February 2012, with the purpose of becoming an integrated and diversif

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