June 27, 2014 / 2:05 AM / in 4 years

Mexico's Pemex sees record demand for latest debt issuance

MEXICO CITY, June 26 (Reuters) - Mexico’s state-run oil company Pemex said on Thursday it had record demand for its latest local debt issuance which was oversubscribed nearly four-fold.

Investors aiming to purchase three separate Pemex debt offerings worth a total of 15 billion pesos ($1.15 billion) pledged 57.5 billion pesos, or 3.8 times the amount issued, Pemex said in a statement.

“The total demand registered was the biggest for any local debt issuance in Pemex history,” the company said.

The debt had maturities of some 5 to 11 years.

Late last year, a sweeping energy reform championed by President Enrique Pena Nieto ended Pemex’s 75-year oil and gas monopoly, paving the way for billions in new private investment aimed at reversing declining production.

Once the reform is fully implemented, international oil majors are expected to seek out Pemex as a partner in potentially lucrative projects that could improve the Mexican oil giant’s own finances. ($1 = 13.0068 Mexican Pesos) (Reporting by David Alire Garcia; Editing by Ken Wills)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below