By Rebecca Melvin
New York, Feb. 1 – Petroleos Mexicanos SAB de CV priced $4 billion of senior notes in two tranches due 2028 and 2048 on Thursday, according to a market source.
The $2.5 billion of 5.35% notes due Feb. 12, 2028 priced at par and the $1.5 billion of 6.35% notes due Feb. 12, 2048 also priced at par.
Pricing came tighter than initial talk for a yield of about 5¾% and 6¾%, respectively.
BNP Paribas, Citigroup, BofA Merrill Lynch and SMBC were bookrunners for the Rule 144A and Regulation S notes.
The new notes are part of a multipart refinancing and are being issued under the firm’s $92 billion medium term notes program.
Proceeds will help with repurchases of notes due 2019, 2020, 2044 and 2046.
Pemex is a Mexico City-based oil and gas company.
| Issuer: | Petroleos Mexicanos SAB de CV
|
| Amount: | $4 billion
|
| Securities: | Senior notes
|
| Bookrunners: | BNP Paribas, Citigroup, BofA Merrill Lynch and SMBC
|
| Trade date: | Feb. 1
|
| Settlement date: | Feb.12
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Ten-year notes
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| Amount: | $2.5 billion
|
| Maturity: | Feb. 12, 2028
|
| Coupon: | 5.35%
|
| Price: | Par
|
| Yield: | 5.35%
|
| Price talk: | 5¾%
|
|
|
| Thirty-year notes
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| Amount: | $1.5 billion
|
| Maturity: | Feb. 12, 2048
|
| Coupon: | 6.35%
|
| Price: | Par
|
| Yield: | 6.35%
|
| Price talk: | 6¾%
|
|
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