Pemex Upsizes Ex-Im Backed FRN

Pemex Upsizes Ex-Im Backed FRN

Mexico Bonds Structured Finance

Pemex has sold $750m in bonds guaranteed by the US Export-Import bank, increasing the size from a $300m minimum after seeing more than $750m in demand. The sale follows a similar deal last week and comes on a busy day for the Mexican state-owned oil company, in which it also raised MXP10.4bn ($818m) in peso-denominated bonds. Starting on the back of strong reverse inquiry, Pemex took advantage of sharp UST moves to offer key investors AAA paper from a LatAm issuer. The 2024 bond with a 5.5-year

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