By Aaron Hochman-Zimmerman
New York, May 20 - Petroleos Mexicanos (Pemex) priced £350 million of 13-year bonds at a spread of Gilts plus 450 basis points (Baa1/BBB+/), according to a market source.
The deal came to market at 99.406 with a coupon of 8¼%.
Barclays and Deutsche Bank acted as bookrunners.
Pemex also has $500 million in peso-denominated floating- and fixed-rate bonds on the calendar. The seven-year fixed-rate portion is expected around Mbonos plus 160 bps.
Pemex is a Mexico City-based government run oil firm.
Issuer: Petroleos Mexicanos
Issue: Global bonds
| Amount: | £350 million
|
| Maturity: | June 2022
|
| Coupon: | 8¼%
|
| Price: | 99.406
|
| Spread: | Gilts plus 450 bps
|
| Bookrunners: | Barclays, Deutsche Bank
|
| Pricing date: | May 20
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
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