Obligation Petromex 9.5% ( US706451BD26 ) en USD

Société émettrice Petromex
Prix sur le marché refresh price now   105.4 %  ▲ 
Pays  Mexique
Code ISIN  US706451BD26 ( en USD )
Coupon 9.5% par an ( paiement semestriel )
Echéance 14/09/2027



Prospectus brochure de l'obligation Pemex US706451BD26 en USD 9.5%, échéance 14/09/2027


Montant Minimal 1 000 USD
Montant de l'émission 790 497 000 USD
Cusip 706451BD2
Notation Standard & Poor's ( S&P ) BBB ( Qualité moyenne inférieure )
Notation Moody's B3 ( Très spéculatif )
Prochain Coupon 15/09/2025 ( Dans 43 jours )
Description détaillée Petróleos Mexicanos (PEMEX) est une entreprise publique mexicaine, l'une des plus grandes compagnies pétrolières et gazières au monde, jouant un rôle crucial dans l'économie du Mexique.

Un examen approfondi de l'obligation ISIN US706451BD26, émise par Pemex, l'entreprise pétrolière nationale mexicaine, révèle les caractéristiques clés de cet instrument de dette : Pemex, ou Petróleos Mexicanos, représente le pilier de l'industrie pétrolière et gazière du Mexique, agissant en tant qu'entreprise publique entièrement intégrée, de l'exploration à la commercialisation; son rôle central dans l'économie mexicaine est indéniable, bien que l'entreprise soit souvent confrontée à des défis structurels liés à sa production, son endettement et sa gouvernance, ce qui se reflète dans l'évaluation de sa solvabilité; cette obligation, libellée en dollars américains (USD), offre un taux d'intérêt nominal significatif de 9.5%, payable deux fois par an (fréquence de paiement de 2), soulignant son profil de rendement élevé; avec une date de maturité fixée au 14 septembre 2027, elle présente un horizon d'investissement à moyen terme; le montant total de l'émission s'élève à 790 497 000 USD, une taille conséquente permettant une liquidité raisonnable sur le marché secondaire, où son prix actuel s'établit à 105.4% de sa valeur nominale, indiquant qu'elle se négocie avec une prime; les investisseurs peuvent acquérir cette obligation par lots d'au moins 1 000 USD, ce qui la rend accessible à une gamme d'investisseurs; les identifiants financiers de cet instrument sont le code ISIN US706451BD26 et le code CUSIP 706451BD2; la qualité de crédit de Pemex, et par extension de cette émission, est évaluée différemment par les principales agences de notation : Standard & Poor's attribue une note de BBB, la positionnant dans la catégorie d'investissement de qualité moyenne, tandis que Moody's lui confère un B3, ce qui la classe nettement en catégorie spéculative, ou "junk bond", une divergence qui met en lumière la perception variable du risque associé à l'émetteur; cette divergence de notation, combinée à un rendement élevé pour une entreprise d'État, suggère que l'obligation Pemex US706451BD26 s'adresse à des investisseurs prêts à assumer un certain niveau de risque en échange d'un potentiel de rendement attractif, tout en surveillant attentivement la performance et la situation financière de l'émetteur mexicain.











Pemex Project Funding Master Trust

Pemex Project Funding Master Trust (the "Issuer"), a statutory trust organized under the laws of
the state of Delaware, and Petróleos Mexicanos (the "Guarantor"), a decentralized public entity of the
Federal Government of the United Mexican States, make the following announcements:
1.
As of February 13, 2006, there are U.S. $180,244,000 principal amount of the Issuer's
9.00% Guaranteed Notes due 2007 (Temporary ISIN No. US706451BH30 (before the first Interest
Payment Date) and ISIN No. US706451AY71 (after the first Interest Payment Date)) and, which have
been registered with the United States Securities and Exchange Commission (the "SEC") and deposited
with DTC as of February 13, 2006. There are U.S. $7,443,000 aggregate principal amount of the Issuer's
9.00% Guaranteed Notes due 2007 (ISIN Nos. US706451AR21 (Restricted Global Note) and
USU70577AM03 (Regulation S Global Note)) outstanding. In addition, there are U.S. $62,313,000
aggregate principal amount of the Guarantor's 9.00% Guaranteed Notes due 2007 (ISIN Nos.
US71654QAH56 (Restricted Global Note) and USP78628AC15 (Regulation S Global Note)) outstanding.
2.
As of February 13, 2006, there are U.S. $407,241,000 principal amount of the Issuer's
8.85% Guaranteed Notes due 2007 (Temporary ISIN No. US706451BJ95 (before the first Interest
Payment Date) and ISIN No. US706451AZ47 (after the first Interest Payment Date)), which have been
registered with the SEC and deposited with DTC as of February 13, 2006. There are U.S. $26,667,000
aggregate principal amount of the Issuer's 8.85% Guaranteed Notes due 2007 (ISIN Nos.
US706451AS04 (Restricted Global Note) and USU70577AN85 (Regulation S Global Note)) outstanding.
In addition, there are U.S. $166,092,000 aggregate principal amount of the Guarantor's 8.85% Global
Guaranteed Notes due 2007 (ISIN Nos. US71654QAL68 (Registered Global Note) and USP78628AD97
(Regulation S Global Note)) outstanding.
3.
As of February 13, 2006, there are U.S. $487,600,000 principal amount of the Issuer's
9% Guaranteed Notes due 2008 (Temporary ISIN No. US706451BK68 (before the first Interest
Payment Date) and ISIN No. US706451BA86 (after the first Interest Payment Date)), which have been
registered with the SEC and deposited with DTC as of February 13, 2006. There are U.S. $5,422,000
aggregate principal amount of the Issuer's 9% Guaranteed Notes due 2008 (ISIN Nos. US706451AT86
(Restricted Global Note) and USU70577AP34 (Regulation S Global Note)) outstanding. In addition, there
are U.S. $105,218,000 aggregate principal amount of the Guarantor's 9% Global Guaranteed Notes
due 2008 (ISIN Nos. US71654QAS12 (Registered Global Note), US71654XAJ63 (Restricted Global Note)
and US71654YAJ47 (Regulation S Global Note)) outstanding.
4.
As of February 13, 2006, there are U.S. $339,915,000 principal amount of the Issuer's
9¼% Guaranteed Bonds due 2018 (Temporary ISIN No. US706451BL42 (before the first Interest
Payment Date) and ISIN No. US706451BB69 (after the first Interest Payment Date)), which have been
registered with the SEC and deposited with DTC as of February 13, 2006. There are U.S. $512,000
aggregate principal amount of the Issuer's 9¼% Guaranteed Bonds due 2018 (ISIN Nos. US706451AU59
(Restricted Global Bond) and USU70577AQ17 (Regulation S Global Bond)) outstanding. In addition,
there are U.S. $9,573,000 aggregate principal amount of the Guarantor's 9¼% Global Guaranteed Bonds
due 2018 (ISIN Nos. US71654QAP72 (Registered Global Bond), US71654XAF42 (Restricted Global
Bond) and US71654YAF25 (Regulation S Global Bond)) outstanding.





5.
As of February 13, 2006, there are U.S. $225,395,000 principal amount of the Issuer's
8.625% Guaranteed Bonds due 2023 (Temporary ISIN No. US706451BM25 (before the first Interest
Payment Date) and ISIN No. US706451BC43 (after the first Interest Payment Date)), which have been
registered with the SEC and deposited with DTC as of February 13, 2006. There are U.S. $15,260,000
aggregate principal amount of the Issuer's 8.625% Guaranteed Bonds due 2023 (ISIN Nos.
US706451AV33 (Restricted Global Bond) and USU70577AR99 (Regulation S Global Bond)) outstanding.
In addition, there are U.S. $9,345,000 aggregate principal amount of the Guarantor's 8.625% Bonds due
2023 (ISIN Nos. US71654XAC11 (Restricted Global Bond) and US71654YAB11 (Regulation S Global
Bond)) outstanding.
6.
As of February 13, 2006, there are U.S. $375,865,000 principal amount of the Issuer's
9.50% Guaranteed Bonds due 2027 (Temporary ISIN No. US706451BN08 (before the first Interest
Payment Date) and ISIN No. US706451BD26 (after the first Interest Payment Date)), which have been
registered with the SEC and deposited with DTC as of February 13, 2006. There are U.S. $385,000
aggregate principal amount of the Issuer's 9.50% Guaranteed Bonds due 2027 (ISIN Nos.
US706451AW16 (Restricted Global Bond) and USU70577AS72 (Regulation S Global Bond)) outstanding.
In addition, there are U.S. $23,750,000 aggregate principal amount of the Guarantor's 9.50% Global
Guaranteed Bonds due 2027 (ISIN Nos. US71654QAM42 (Registered Global Bond) and USP78628AE70
(Regulation S Global Bond)) outstanding.
7.
As of February 13, 2006, there are U.S. $414,882,000 principal amount of the Issuer's
9.50% Guaranteed Puttable or Mandatorily Exchangeable Securities ("POMESSM") due 2027 (Temporary
ISIN No. US706451BP55 (before the first Interest Payment Date) and ISIN Nos. US706451BE09 (after
the first Interest Payment Date)), which have been registered with the SEC and deposited with DTC as of
February 13, 2006. There are U.S. $6,640,000 aggregate principal amount of the Issuer's 9.50%
Guaranteed POMESSM due 2027 (ISIN Nos. US706451AX98 (Restricted Global Note) and
USU70577AT55 (Regulation S Global Note)) outstanding. In addition, there are U.S. $78,478,000
aggregate principal amount of the Guarantor's 9.50% POMESSM due 2027 (ISIN Nos. US71654QAR39
(Registered Global Note) and US71654YAK10 (Regulation S Global Note)) outstanding.
8.
As of February 13, 2006, there are U.S. $990,746,000 principal amount of the Issuer's
5.75% Guaranteed Notes due 2015 (ISIN No. US706451BF73), which have been registered with the SEC
and deposited with DTC as of February 13, 2006. There are U.S. $9,254,000 aggregate principal amount
of the Issuer's 5.75% Guaranteed Notes due 2015 (ISIN Nos. US70645JAP75 (Restricted Global Note)
and US70645KAP49 (Regulation S Global Note) outstanding.
9.
As of February 13, 2006, there are U.S. $498,005,000 principal amount of the Issuer's
6.625% Guaranteed Bonds due 2035 (ISIN No. US706451BG56), which have been registered with the
SEC and deposited with DTC as of February 13, 2006. There are U.S. $1,995,000 aggregate principal
amount of the Issuer's 6.625% Guaranteed Bonds due 2035 (ISIN Nos. US70645JAQ58 (Restricted
Global Bond) and US70645KAQ22 (Regulation S Global Bond)) outstanding.
The Issuer, together with the Guarantor, accepts responsibility for the information they have
provided in this notice.





February 13, 2006