Pemex Sells 500mn Euro Bonds

Mexico's state oil company Pemex sold bonds worth approximately 500mn euros on Tuesday, a company source told BNamericas. The source would not comment on the term or price of the bonds, and said that an official statement would be made when the placement is formalized, around the beginning of August.

Before the issue, Bloomberg reported that the bonds were for 10 years, and would be sold at a price to yield about 2.25 percentage points more than the mid-swap rate. This year, Pemex placed US$750mn in 10-year bonds in June, 750mn euros in 7-year bonds in April, US$500mn in 20-year bonds in March, US$750mn in 5.5-year bonds in February and 250mn pounds sterling in January. Pemex financial director Juan Jose Suarez said in January that the company would seek US$7bn-8bn from the markets this year.

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