Pemex Set to Renew Revolver

Pemex is scheduled to hold a bank meeting in Mexico City today and another in New York Monday to renew a $1.25bn senior unsecured revolving credit facility, according to people familiar with the plans. The state-owned oil producer’s existing 5-year facility comes due this month, and is expected to be replaced with another 5-year revolver. Citi, Credit Agricole, HSBC, JPMorgan, Mizuho and Sumitomo Mitsui are bookrunners on the deal. Pemex is rated BBB/BBB/Baa1.