Pemex Readies GDN as DCM Awaits Fed

Pemex Readies GDN as DCM Awaits Fed

Mexico Bonds

Pemex is targeting Thursday to price a new 2024 peso-denominated global depository note (GDN) transaction of up to MXP15bn ($1.15bn), according to sources familiar with the issuer's plans. Pricing is contingent on market conditions - specifically a favorable reaction to today's US FOMC statement. Market feedback from domestic accounts for the fixed-rate bond is heard at Mbonos+100bp-120bp, though the issuer is still gauging pricing interest from international accounts. The GDN format allows the

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