Mexico's Pemex obtains $1.25 billion credit facility

By Reshmi Basu

New York, July 6 - Petroleos Mexicanos completed an upsized $1.25 billion unsecured revolving facility, according to a news release.

The oversubscribed facility was increased to $1.25 billion from $1 billion in response to the strong demand.

The facility is divided into two tranches: a $605 million three and a half year tranche priced at Libor plus 55 basis points and a $645 million five-year tranche prices at Libor plus 75 basis points.

Bank of America, Barclays, BNP Paribas, HVB and Mizuho are the lead arrangers.

Pemex is Mexico's state-owned oil company.

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