Deals this week: Petroleos Mexicanos, TAG Oil


Petroleos Mexicanos (Pemex) has raised $1.85bn through a public offering of issuing 2.51% notes, due in August 2021.

Alongside this, the company has also raised approximately $2.65bn through issuing 3.84% notes and 4.98% notes in two separate public offerings.

BNP Paribas Securities Corp, Credit Agricole SA, Deutsche Bank AG, and HSBC were underwriters for the issue.

The amount raised from the offering is intended to be used by the company to fund strategic investment projects and for refinancing.

"Underwriters have been granted a 30-day over-allotment option to buy up to an additional 15% of the number of units sold under the issue."

TAG Oil Ltd has filed primarily prospectus to issue up to 15,385,000 units to raise $7.66m, in a public offering. Each unit includes a common share of TAG Oil and one-half of a common share purchase warrant.

Underwriters have been granted a 30-day over-allotment option to buy up to an additional 15% of the number of units sold under the issue.

TAG Oil has appointed Blake, Cassels & Graydon LLP as legal advisor for the offering, which is scheduled for completion in mid-March 2017.

The amount raised from the offering is intended to be used by the company for general corporate purposes.