Pemex pries open market with long-awaited bond

摘要

With a close to US$11bn order book behind it, pemex's new US$2bn 10-year bond helped to pry open a Latin American primary market that had largely been shut in recent months. The state-owned oil firm enjoyed strong demand for its first dollar bond in eight months despite doubts about how presidentelect Andres Manuel Lopez Obrador (AMLO) will manage the state-owned entity. It was also the type of quasi-sovereign entity that typically sets the tone for the rest of the market to follow.