Investors chase yield with Pemex bonds

Investors chase yield with Pemex bonds

Bonds Debt Capital Markets Funds Asset Management Fixed Income Energy Mexico US Asia

Investors placed $37bn in orders for Pemex's $7.5bn bond deal last week, attracted by high yields and improving prospects for Mexico's state-owned oil company, sources told LatinFinance. "You don't see that many investment grade companies paying yields of 6% to 7%, especially in this environment, where high-yield names are paying very little," said a bonds banker who worked on the deal. Although Fitch Ratings relegated Pemex from investment grade in June, other agencies have decided to leave the

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