Mexicos’ Pemex sets talk for new 10-year notes, tap of 2044s

By Christine Van Dusen

Atlanta, Oct. 6 – Mexico’s Petroleos Mexicanos SAB de CV (Pemex) set talk for a new issue of 10-year notes and a tap of its 2044 notes, a market source said.

The new 10-year notes were talked at a spread in the Treasuries plus 210 basis points area.

The tap of the 2044s was talked at a spread in the Treasuries plus 240 bps area.

The existing $2.75 billion 2044 notes carry a 5˝% coupon.

BofA Merrill Lynch, Credit Agricole CIB and JPMorgan are the bookrunners for the deal.

The proceeds will be used for the early redemption of Pemex’s 2015 notes, to finance an investment program and for working capital needs.

Pemex is a Mexico City-based petrochemical company.

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