Pemex to Test Markets

Pemex to Test Markets

Mexico Bonds

Pemex was planning to come to market as soon as today for up to MXP12.5bn ($983m) if market conditions permit, targeting a new 2024 global depository note (GDN) and a reopening of its 2017 floating-rate domestic bonds. The Mexican state-owned oil producer is targeting MXP10bn for the long 10-year benchmark GDN, able to be sold to both local and international investors. The issuer plans additional reopenings expected every quarter until it reaches a target size of MXP40bn. The 2017s have a coupon

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