Pemex Seeks Tighter Terms on $2.5bn Loans

Pemex is seeking to reduce pricing on two $1.25bn bullet loans, one of three years and one of five years, to Libor plus 20bp and Libor plus 25bp respectively, says a banker not on the deal. Barclays, Calyon and BBVA are leading the process, the first two of which were leads on the existing facilities. The state-owned oil company held a bank meeting Monday and will hold another today in Mexico City.