Pemex Issues $1.8 Billion in Debt in Return to Mexico Markets

Mexican state oil company Petroleos Mexicanos has issued 31.5 billion pesos ($1.8 billion) in debt, ending a six-year absence from local markets.

The transaction consists of 5.5 billion pesos in notes known as “certificados bursátiles” maturing in 2036; 17 billion pesos due 2034; and 9 billion pesos maturing 2031. Demand stood at 2 times over the maximum amount, with the 2034 instrument with a fixed 10.8% rate attracting the most interest, according to a note from Banorte analysts Gerardo Valle and María José Hernández.