Pemex Euro Pierces Dollar Curve

Pemex Euro Pierces Dollar Curve

Mexico Bonds

Pemex has raised EUR1.3bn ($1.75bn) in new 7-year bonds, it says, in a trade seen coming at an attractive level versus the Mexican state-owned oil company’s dollar curve. Investors put in for orders topping EUR5bn. The Baa1/BBB/BBB+ 2020 priced at 99.358 with a 3.125% coupon, to yield 3.229%, or MS+173bp, at the tight end of 175bp +/minus 2bp guidance that followed 190bp-area talk, according to people familiar with the terms. The issuer opted for a 7-year maturity over an 8-year tenor, the other

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