Weekly Report - 05 July 2012 (WR-12-26)

MEXICO | Pemex taps US market. On 27 June Mexico’s state-owned oil company, Pemex, successfully issued bonds for US$400m in the US market though guarantee deposits from the US Export Import Bank. In a statement, Pemex explained that the bonds were a six month amortizing bond with expiry date of December 2022 and half life of 5.71 years which offers a yield of 1.95%. According to Pemex, the bonds were sold to US investors including “pension funds, investment funds and banks”; and the funds raised will be used to “refinance the import goods and services” used by the company.

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