Mexico’s Pemex sets talk for up to €2.5 billion notes due 2022, 2027; pricing expected Tuesday

By Christine Van Dusen

Atlanta, April 14 – Mexico’s Petroleos Mexicanos SAB de CV set talk for an up to €2.5 billion offering of notes due in April 2022 and 2027 (A3/BBB+/BBB+), a market source said.

The seven-year fixed-rate notes were talked at a spread of mid-swaps plus 165 basis points to 170 bps.

The 12-year fixed-rate notes were talked at a spread of mid-swaps plus 225 bps to 230 bps.

Barclays, BNP Paribas, Deutsche Bank and Santander are the bookrunners for the Regulation S deal.

The notes are expected to price later on Tuesday.

Pemex is a Mexico City-based petrochemical company.

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