By Christine Van Dusen
Atlanta, Jan. 16 - Mexico's Petroleos Mexicanos SAB de CV (Pemex) priced a combined $4 billion of notes due 2019, 2024 and 2045 (Baa1/BBB+/BBB+) on Wednesday, a market source said.
The deal included $500 million five-year notes that priced at par to yield 3 1/8%, or Treasuries plus 145 basis points.
The $500 million tap of the company's 4 7/8% notes due Jan. 18, 2024 priced at 99.453 to yield 205 bps over Treasuries.
And the $3 billion 6 3/8% notes due Jan. 23, 2045 priced at 99.252 to yield Treasuries plus 260 bps.
BofA Merrill Lynch, Deutsche Bank and Goldman Sachs 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: | $4 billion
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Deutsche Bank, Goldman Sachs
|
| Trade date: | Jan. 15
|
| Settlement date: | Jan. 23
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 23, 2019
|
| Coupon: | 3 1/8%
|
| Price: | Par
|
| Yield: | 3 1/8%
|
| Spread: | Treasuries plus 145 bps
|
|
|
| 10-year notes
|
| Amount: | $500 million add-on
|
| Maturity: | Jan. 18, 2024
|
| Coupon: | 4 7/8%
|
| Price: | 99.453
|
| Spread: | Treasuries plus 205 bps
|
|
|
| 31-year notes
|
| Amount: | $3 billion
|
| Maturity: | Jan. 23, 2045
|
| Coupon: | 6 3/8%
|
| Price: | 99.252
|
| Spread: | Treasuries plus 260 bps
|
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