MEXICO CITY, Sept 16 (Reuters) - The Mexican government
turned to international debt markets for the second time this
week to prop up flagging state oil producer Pemex, launching $8
billion in bonds on Tuesday.
The fresh offer, reported by IFR, LSEG's fixed-income
news service, will help Pemex pay for a $9.9 billion bond
buyback launched earlier this month.
That buyback offer was oversubscribed by the early
tender deadline of Monday, Pemex said.
Tuesday's federal bond launch was split into $1.5
billion in notes due 2031, $4 billion maturing in 2033 and $2.5
billion maturing in 2025, IFR reported. Pricing was tighter than
initially expected, showing investor appetite in the offer.
The deal follows a 5-billion-euro bond issue launched on
Monday. In July, Mexico sold $12 billion in the form of
pre-capitalized securities, or P-Caps, for Pemex.
Pemex is one of the world's most indebted oil firms,
with around $100 billion in financial debts. In August, the
government rolled out a sweeping plan to end its handouts for
the company by 2027.