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MEXICO CITY, July 15 (Xinhua)-- Mexico's state-owned oil company, Pemex, announced Friday that it raised 80 billion yen (760 million U.S. dollars) on a 10-year loan from the Japanese capital market.
The loan, expiring in July 2026 with an interest rate of 0.54 percent, was part of its annual financing plan for 2016, the company said in a press release.
Pemex said that this transaction "represented the largest amount emitted to a Latin American company from this market."
The loan is distributed among over 90 investors, including insurance companies, fund managers, regional cooperatives, and public and private banks. The full amount of funding was also underwritten by the Japan Bank for International Cooperation.
"This transaction enters within Pemex's strategy to diversify its base of investors and to access sources of financing through diverse formats and currencies," read the statement.
The operation "reflects the confidence of international investors in Pemex as a productive enterprise of the state, as well as in the opportunities offered by the Energy Reform, which help the competitive development of the company and the hydrocarbons sector in Mexico," it said.
Since 2009, the Mexican government has frequently sought to take out debt in the Japanese market, having received financing from Mizuho, Bank of Tokyo-Mitsubishi and Sumitomo among others. Enditem
