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Latino Daily News

Thursday June 21, 2012

Pemex Covers Expenses and Investments By Selling $1.75 Billion in Bonds Internationally

State-owned Petroleos Mexicanos, or Pemex, said it sold $1.75 billion worth of bonds on the international market, raising funds that will be used to cover operating expenses and investment.

The bonds mature in June 2044 and have a coupon of 5.5 percent, Pemex, the world’s No. 4 producer of crude, said.

The bonds were purchased by investors, including pension funds, mutual funds and financial institutions, in the United States, Europe and Asia, Pemex said.

The bond issue was handled by Barclays, JP Morgan and Santander, with BBVA serving as joint lead underwriter, Pemex said.

Pemex had total debt of $55.95 billion at the end of 2011, with long-term instruments accounting for 85.9 percent of the total.