May 14, 2019 |
Mexico's Pemex said it will refinance debt with a new five-year, $8bn syndicated loan from HSBC, JPMorgan and Mizuho.
The new facility involves two revolving credit lines for a total of $5.5bn and a term loan for $2.5bn, Pemex said in a press release.
The bookrunners have priced the revolvers and the term loan at 235bp over Libor, according to two sources close to the deal.
"Libor, for your reference, is around two and a half [percent]. If you add 2.35, then it's 4.85. A rate below 5% for this a
HSBC, JPMorgan and Mizuho lead an $8bn syndicated facility for the state-owned oil company