Published on 6/19/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Mexico's Pemex prices $1.75 billion 5½% notes due 2044 to yield 5.53%
By Christine Van Dusen
Atlanta, June 19 - Mexico's Petroleos Mexicanos SAB de CV (Pemex) priced a $1.75 billion issue of 5½% notes due June 27, 2044 (expected ratings: Baa1/BBB/) at 107.31 to yield 5.53%, or Treasuries plus 280 basis points, a market source said.
Barclays Capital, JPMorgan and Banco Santander were the bookrunners for the Rule 144A and Regulation S deal.
Pemex is a Mexico City-based petrochemical company.
| Issuer: | Petroleos Mexicanos SAB de CV (Pemex)
|
| Amount: | $1.75 billion
|
| Maturity: | June 27, 2044
|
| Description: | Notes
|
| Bookrunners: | Barclays Capital, JPMorgan, Banco Santander
|
| Coupon: | 5½%
|
| Price: | 107.31
|
| Yield: | 5.53%
|
| Spread: | Treasuries plus 280 bps
|
| Trade date: | June 19
|
| Settlement date: | June 27
|
| Expected ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Distribution: | Rule 144A and Regulation S
|
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