New Issue: Mexico’s Pemex prices Ps. 3.42 billion add-on to 7.19% notes due 2024 to yield 6.8%

By Christine Van Dusen

Atlanta, Sept. 8 – Mexico’s Petroleos Mexicanos SAB de CV (Pemex) priced Ps. 3,418,200,000 7.19% notes due Sept. 12, 2024 (A3/A/A-) at 102.821247 to yield 6.8%, a market source said.

BBVA, Citigroup, HSBC, BofA Merrill Lynch and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.

The proceeds will be used for general corporate purposes.

The existing size of the deal is Ps. 26.4 billion.

Pemex is a Mexico City-based petrochemical company.

Issuer: Petroleos Mexicanos SAB de CV

Amount: Ps. 3,418,200,000

Maturity: Sept. 12, 2024

Description: Notes

Bookrunners: BBVA, Citigroup, HSBC, BofA Merrill Lynch, Morgan Stanley

Coupon: 7.19%

Price: 102.821247

Yield: 6.8%

Trade date: Sept. 5

Settlement date: Sept. 11

Ratings: Moody’s: A3

Standard & Poor’s: A

Fitch: A-

Distribution: Rule 144A/Regulation S

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