December 6, 2016 / 5:47 PM / in 2 years

UPDATE 1-Pemex selling up to three-part US dollar benchmark bond

(Adds guidance)
    By Mike Gambale
    NEW YORK, Dec 6 (IFR) - Here is the pricing progression on
the new bond offering from Petroleos Mexicanos (Pemex), rated
Baa3/BBB+/BBB+, expected to price later on Tuesday, according to
one of the lead managers. 
    The bond is the first from a LatAm issuer in US dollars
since Nov. 10, according to IFR data.
 TBD        5yr FXD    6%-low 6%    5.625% area*
 TBD        5yr FRN    Libor equiv  Libor equiv
 TBD        10yr FXD   7%-low 7%    6.75% area*
    * Area is defined as +/-12.5bp
    Active bookrunners: Bank of America Merrill Lynch,
Citigroup, JP Morgan, Mizuho, Morgan Stanley.

 (Reporting by Mike Gambale; Editing by Natalie Harrison)
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