January 18, 2019 |
A host of international banks are competing to underwrite a new benchmark bond from Mexico's state-owned oil company Pemex before the pre-earnings quiet period starts in mid-February, LatinFinance has heard.
"Everybody is pitching for this deal, but there is no mandate yet," said a debt capital markets banker at a major US investment bank. "We are hoping that Pemex decides soon and comes to market before the blackout period."
If Pemex does not issue cross-border bonds before the quiet period beg
Mexico's state-owned oil company will have to offer high premiums if it comes to the bond market now, bankers say