Pemex Closes US$1.75bn Perpetual Bond Issue

Mexico's state oil company Pemex has closed the US$1.75bn perpetual bond issuing that saw approximately 60% sold on Asian markets and some 40% on European markets on September 28, a company source told BNamericas.

The issue received US$4.9bn worth of offers, the source added. Despite the bonds not having maturity dates, Pemex has the option to buy back the bonds after five years. The bonds, which were priced on September 21, will pay a fixed interest rate of 7.75%. Interest payments will be made quarterly.

Merrill Lynch, Citigroup and HSBC were the placing agents.

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