Published on 11/22/2005 in the Prospect News Emerging Markets Daily.
New Issue: Mexico's Pemex prices $750 million seven-year floaters to yield Libor plus 60 bps
By Paul A. Harris
St. Louis, Nov. 22 - Pemex Project Funding Master Trust, a trust controlled by Mexican oil company Petroleos Mexicanos SA de CV, priced a $750 million issue of seven-year senior floating-rate notes (Baa1/BBB-/BBB-) at par to yield three-month Libor plus 60 basis points.
Morgan Stanley and HSBC ran the books for the Rule 144A/Regulation S issue. The co-managers were BBVA Bancomer and BNP Paribas.
| Issuer: | Pemex Project Funding Master Trust
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| Amount: | $750 million
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| Maturity: | Dec. 3, 2012
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| Security description: | Senior floating-rate notes
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| Bookrunners: | Morgan Stanley, HSBC
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| Co-managers: | BBVA Bancomer, BNP Paribas
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| Coupon: | Three-month Libor plus 60 basis points
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| Price: | Par
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| Yield: | Three-month Libor plus 60 basis points
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| Trade date: | Nov. 22
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| Settlement date: | Nov. 22
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| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
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