Pemex to auction 12th round of short-term bonds Mar. 22

Mexico's state oil company Pemex will auction its 12th round this year of short-term bonds worth 500mn pesos (US$44.8mn) on the BMV Mexico City stock exchange on March 22, according to BMV information. The 29-day fixed-rate bonds cost 100 pesos each and each investor can buy up to 50 bonds. They will be issued on March 23. Credit ratings agency Standard and Poor's assigned its mxA-1+ rating to the issue, Fitch its F1+ (mex) rating and Moody's its MX-1 rating. JP Morgan will act as fiduciary for the issue and Scotia Inverlat and Santander Serfín were the placing agents. This is Pemex's 31st 500mn-peso short-term bond issue since August 2004.