November 27, 2012 / 3:00 AM / 5 years ago

Mexico's Pemex issues $1.9 bln in local debt

MEXICO CITY, Nov 26 (Reuters) - 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.

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