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Pemex Places 2 Bonds with Maturity in 2028 and 2048 in the U.S. Dollars Market

01/02/2018 | 9

Petróleos Mexicanos placed two bonds with 10 and 30 -year maturity respectively, for a total of 4 billion U.S. Dollars, which are divided as follows:

  • 2.5 billion dollars with maturity in 2028 and a financial yield of 5.35%, and
  • 1.5 billion dollars with maturity in 2048 and a financial yield of 6.35%.

This operation allowed for an improvement of the efficiency of the yield curve, which is reflected in an improved financial cost for the company.

This is the third transaction with a liability management component that has been executed by Petróleos Mexicanos since 2016, and it is framed in the company’s effort to maintain its proper operation and discovery of the price of its bonds in U.S. dollars.

Of the resources obtained in the operation, 2 billion dollars will be used to repurchase bonds that expire during 2019 and 2020. Furthermore, an offer is being executed for the exchange of the bonds in the following chart, which expire in 2044 and 2046, for the new bonds with a 30-year maturity.


The results of both the repurchase and the exchange will be announced as soon as the final conditions of these offers are defined, according to the legal requirements.

The investors who participated in this operation are mainly from the United States, the Middle East, Asia and Mexico. The demand was of approximately 25 billion dollars, which translates into an excess subscription of 6.5 times the total amount issued. The placement agents were BNP Paribas Securities Corp., Citigroup Global Markets Inc., Merryll Lynch, Pierce, Fenner & Smith Incorporated and SMBC Nikko Securities America, Inc.

In a volatile financial market environment, this shows the trust placed by the investors in the financial strategy of the current company administration.

Las menciones de Pemex pueden referirse a Petróleos Mexicanos o a cualquiera de sus Empresas Productivas Subsidiarias.
Last Modified 02/02/2018 13:39 Pemex