PEMEX Leads Debt Sales Revival : Mexico Credit

September is due to see corporate bond sales in Mexico rise to a five-month high. Companies like Mexichem SAB and Petroleos Mexicanos SA are taking advantage of the falling borrowing costs and are planning on selling their debt. Mexican local corporate bond sales are poised to climb to a five-month high in September as companies from Mexichem SAB to Petroleos Mexicanos SA take advantage of falling borrowing costs. This comes as no surprise, as Mexican companies are lining up to sell debt as speculation grows that Banco de Mexico, the only major central bank to keep interest rates unchanged in the past year may cut them as early as December. Pemex, Latin America's biggest oil producer, may sell as much as 15 billion pesos ($1.2 billion) of debt next month, while plastic pipe maker Mexichem plans to offer as much as 2.5 billion pesos of notes, according to filings with Mexico's stock exchange. The sales would make September the busiest month since April after issuance sank 37 percent in August, shows data compiled by Bloomberg.