Americas
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Huge financial support eases Pemex's immediate debt risks, but does not cure operational problems
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UBS headquarters among deals in enthusiastic SASB market
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The sovereign has issued well over $10bn in just two days to fund liability management for Pemex
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◆ Priced over Austrian govvies ◆ Scarcity and business model help demand ◆ Saskatchewan targets 10 year
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Banker had worked at DB for 14 years
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◆ Choice of three or five year tenor considered ◆ 'Intensive schedule' of investor meetings pays off ◆ Other CAD issuers likely to be 'inspired' by deal
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Authorities are trying to re-establish Pemex as a standalone issuer
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US FIG issuance spikes above $90bn ahead of expected Fed rate cut
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Market participants hope more jurisdictions will follow as Canadian duo attract record demand
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The sovereign has had a busy year of issuance and liability management
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Loan market tranquil but outlook is not pretty
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Banks see opportunities in supporting direct lenders' ESG loan initiatives