Pemex Sells $5 Billion of Bonds, Tapping Ravenous Yield Demand
- Oil company received $25 billion of orders for two tranches
- Offerings tightened pricing to yield 5.95% and 6.95%
An attendant walks past a vehicle being fueled at a Petroleos Mexicanos (Pemex) gas station in Mexico City, Mexico.
Photographer: Luis Antonio Rojas/BloombergThis article is for subscribers only.
It might already be the world’s most indebted oil company, but investors want more.
Petroleos Mexicanos received about $25 billion in orders for its sale of $5 billion of debt split evenly between 11- and 40-year notes, according to people familiar with the demand. The two tranches priced at a yield of 5.95% for the shorter duration bonds and 6.95% on the longer ones.