PEMEX PLACES THE BIGGEST EURO BOND IN THE HISTORY OF EMERGING MARKETS
- Given the international volatility environment, Petróleos Mexicanos strengthens its presence in the European market with the largest issue in the history of emerging markets
- Pemex has established itself as a recurring issuer in the European bond market, reflecting investor confidence in the company and in Mexico.
- Pemex continues to diversify its funding sources in line with the strategy of its 2017 Annual Financing Program.
As part of its 2017 Annual Financing Program and its strategy to diversify funding sources, Petróleos Mexicanos placed 4,450 million euros in three international reference bonds at 4.5, 7 and 11 years in the international capital markets:
- 1,750 million euros maturing in August 2021, a rate of return of 2.51% and a coupon of 2.50%;
- 1,250 million euros with maturity in February 2024, a rate of return of 3.84% and a coupon of 3.75%;
- 1,250 million euros with maturity in February 2028, a rate of return of 4.98% and a coupon of 4.875%.
The operation recorded a demand of approximately 18 billion euros, equivalent to 4.2 times the amount allocated, with the participation of pension funds, portfolio managers and financial institutions in Europe, Asia and the Middle East, among others. The placement agents were BNP Paribas, Crédit Agricole, Deutsche Bank and HSBC.