MEXICO CITY Nov 26 Mexican state-owned oil
company Pemex on Monday issued 25 billion pesos
($1.9 billion) in local debt, its first local issue this year,
the company said on Monday.
The issue included three parts, with maturities varying from
5 to 15-1/2 years, the company said.
HSBC, Santander and BBVA Bancomer
brokerages were among the firms that underwrote the
issue, Pemex said.
Mexico is the world's No. 7 oil producer but output has
stagnated in recent years, dropping by roughly a quarter since
hitting a peak of 3.4 million barrels per day in 2004.
Incoming president Enrique Pena Nieto has ambitious plans to
open the energy sector to more private investment, but he may
struggle in a divided Congress to secure a constitutional reform
needed to forge ahead with sweeping changes.
Proceeds from the issue will be used for investments and
refinancing, Pemex added.