Pimco, Emso Detect Default Risk Mispricing in Pemex’s Bonds
Bloomberg 2/19/2021 Justin Villamil and Amy Stillman
(Bloomberg) In financial markets awash with so much cash that junk bonds can yield less than 2%, the state-owned oil giant Petroleos Mexicanos is a jarring outlier.
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At 5.4%, the yield on the company’s benchmark bonds is not only well above that of similarly rated debt, it’s also almost four percentage points higher than the rate investors demand to buy Mexican government bonds. That gap known as the sovereign to quasi-sovereign spread is the biggest of its kind in the world, and the message it sends is crystal-clear: Pemex’s financial woes are so severe that investors have serious doubts about whether the government will bail it out when needed.
In financial markets awash with so much cash that junk bonds can yield less than 2%, the state-owned oil giant Petroleos Mexicanos is a jarring outlier.
Pimco, Emso Detect Default Risk Mispricing in Pemex’s Bonds
Bloomberg 2/19/2021 Justin Villamil and Amy Stillman
(Bloomberg) In financial markets awash with so much cash that junk bonds can yield less than 2%, the state-owned oil giant Petroleos Mexicanos is a jarring outlier.
Popular Searches
At 5.4%, the yield on the company’s benchmark bonds is not only well above that of similarly rated debt, it’s also almost four percentage points higher than the rate investors demand to buy Mexican government bonds. That gap known as the sovereign to quasi-sovereign spread is the biggest of its kind in the world, and the message it sends is crystal-clear: Pemex’s financial woes are so severe that investors have serious doubts about whether the government will bail it out when needed.
EW GROUP announces the acquisition of Hygiena from Warburg Pincus to form a leading food safety, veterinary and environmental diagnostic solutions company
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VISBEK, Germany and CAMARILLO, Calif., Feb. 16, 2021 /PRNewswire/ EW GROUP, a German strategic holding company in the field of animal breeding, health, nutrition and diagnostics, announced today the acquisition of Hygiena, a leader in food safety and environmental testing solutions. The terms of the transaction have not been disclosed. The transaction is expected to close in March 2021.
Hygiena, headquartered in Camarillo, California, USA, with 9 locations around the world, develops, manufactures and distributes food safety and environmental diagnostic solutions. The products are sold in over 100 countries to more than 10,000 customers. For two decades, Hygiena has been committed to providing accurate and easy-to-use-diagnostic tests, supported by the most knowledgeable
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