Pemex goes large in local market as books top MXN30bn

Pemex goes large in local market as books top MXN30bn

Bonds

Pemex raised MXN12.5bn ($934m) through a heavily-subscribed a triple-tranche bond sale in pesos and UDIs on Thursday. The Mexican oil company sold a MXN2bn 5-year floating-rate note at 15bp over TIIE, a MXN7.5bn 10-year GDN tranche at 145bp over Mbonos, and a MXN3bn 12-year UDI-denominated issue at a spread of 110bp. International investors were heard to have bought around MXN2.6bn of the GDN. Demand topped MXN30bn. The bonds are rated Aaa/AAA/AAA on a local scale. Actinver, Bank of America Merr

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