Pemex Scores Tight Domestic FRN Funds

Pemex Scores Tight Domestic FRN Funds

Mexico Bonds

Mexican state-owned oil company Pemex issued MX5bn ($383m) of 5.5-year floating-rate bonds Thursday, after receiving over MXP12bn in orders, according to people familiar with the deal. The bond was priced at 6bp over TIIE, on the tight end of the 5bp-10bp spread guidance. Pemex is also planning a MXP15bn 10-year fixed-rate tranche and a global depository note (GDN), which may follow the US Federal Reserve’s September 17-18 FOMC meetings, according to a person familiar with the plans. The planned

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