*Mexico’s finance ministry (SHCP) has made a US$12bn debt offering on the international market in a bid to support the indebted state-owned oil company Pemex. The offering, which was first announced last week, consisted of US dollar-denominated debt maturing in 2030 and came in the form of pre-capitalised notes, or P-Caps. According to the SHCP, it is the second-largest structured bond issuance to be issued in history in a single offering. Total demand for the securities reached US$23.4bn, which the SHCP said allowed it to place more than the US$10bn originally planned and improve the final conditions of the offering. The SHCP said that the resources generated by the offering will be put towards covering Pemex’s financial obligations and debt payments due this year and next. The offering comes as Pemex reported net income of M$60bn (US$3.2bn) for the second quarter, its first profit in more than a year.
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