Pemex to pioneer new Cebures link with Euroclear
Mexico City and Brussels, 10 February 2015 – Petróleos Mexicanos (Pemex) is expected to become the first Mexican company to issue debt through the newly-launched ‘Cebures’ service with Euroclear. The new Pemex bonds will be issued domestically through Indeval, the Mexican central securities depository, and will provide investors outside of Mexico access to domestic Mexican Peso denominated securities.
Rodolfo Campos, Pemex Treasurer, commented: “We are proud to be the first Mexican company to take advantage of the innovative new link with Euroclear for Cebures. Once this new issuance has closed, it will raise the total amount outstanding of Pemex’s 7.47% Cebures due 2026 to MXN 25.3 billion (approximately MXN 8.3 billion corresponding to the original issuance in November 2014 and an additional MXN 17 billion corresponding to this re-opening, of which MXN 9 billion was allocated to international investors) and, more importantly, also make this bond Euroclearable. Having Mexican Peso denominated securities settle through Euroclear will provide international investors access to the world’s leading post-trade service provider, and we believe it will help to lay the foundations for the future growth of Mexico’s corporate debt market.”
Stephan Pouyat, Global Head of Capital Markets for Euroclear, added: “We applaud Pemex as the first issuer to take advantage of the new Cebures service. Moreover, we thank Mexico’s Ministry of Finance and Public Credit and Morgan Stanley, as structuring agent for the international syndicate, for their drive and cooperation which has proven invaluable in achieving our common objective, together with Pemex, of issuing this Cebures bond so soon after the service launch date.”
Mr Pouyat continued: “Domestic issuers can now use Euroclear’s services for Cebures to tap into the liquidity provided by international investors, through a simple and cost effective channel. The launch of the Cebures service enhances Euroclear’s existing government bond offering for Mexico by pairing the need of Mexican corporates to access greater and more diverse sources of liquidity with the appetite of international investors to diversify and support the growth of the Mexican economy.”
Note to editors
Euroclear is one of the world’s largest providers of domestic and cross-border settlement and related services for bond, equity, ETF and mutual fund transactions with offices in 15 countries across the globe and links to 46 international markets.
Euroclear is a proven, resilient capital market infrastructure committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise which includes over 100 central banks and supranationals.
The Euroclear group includes Euroclear Bank - which is rated AA+ by Fitch Ratings and AA by Standard & Poor’s - as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. The group settles the equivalent of $682 trillion(€634 trillion) in securities transactions annually representing 182 million domestic and cross-border transactions. The group holds $900 billion (€833 billion) in average daily collateral outstandings, and over $28 trillion (€26 trillion) in assets for clients.
For more information please visit About us or follow us on Twitter @EuroclearGroup or on LinkedIn.