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JBIC has signed the guarantee for Pemex’s ¥80 billion ($753.7 million) 10-year samurai bond. The 100% nominal value guarantee – provided under JBIC’s Guarantee and Acquisition toward Tokyo market Enhancement (GATE) facility – signed on July 19.
The issue – lead arranged by Mizuho Securities, SMBC Nikko Securities and Mitsubishi UFJ Morgan Stanley Securities with Mizuho Bank as bond administrator – was 1.8 times oversubscribed and came with a yield of 0.54%.
Pemex last tapped the yen market in September 2008, when it raised ¥64 billion of 12 year debt through a private placement guaranteed by NEXI.