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Pemex taps Swiss franc market

Bnamericas Published: Friday, November 20, 2015
Pemex taps Swiss franc market

Pemex has issued a 600mn Swiss franc (US$590mn) bond maturing in 2020 with a coupon of 1.5%, the lowest rate ever achieved by the Mexican national oil company.

"The strength of the demand allowed the A3/BBB+ rated borrower to increase its five year deal during bookbuilding," Global Capital said, adding that the five-year transaction was conducted at 205-215bp over mid-swaps on Thursday morning, following a six-week global roadshow.

BNP Paribas and Credit Suisse brokered the deal, Pemex said. The Mexican national oil company will use the proceeds to finance projects.

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