PEMEX DEBT UP
TOGY wrote, Pemex said late on Monday that it had issued USD 4 billion in bonds in an effort to bolster the company's finances. It also announced that some USD 1.5 billion in debt had been repurchased.
The two bonds, valued at USD 2 billion each and issued in a financial operation that started early in September, will carry maturities of seven and close to 31 years. They pay yields of 4.62% and 6.75%, respectively, according to Pemex CFO Juan Pablo Newman. Now with greater maturity, Pemex's repurchased debt, which was due to mature in 2018 and 2019, has reduced the risks of the company's debt portfolio, Newman said.
The operation, which closed on Monday, saw the involvement of Barclays Capital, Citigroup, HSBC, Mitsubishi UFJ Financial Group and Natixis.
In other news, Mexico's National Hydrocarbons Commission said on Monday that parties interested in joining the country's deepwater joint venture for Pemex's Trion field would have extra time to submit questions. "This is an additional space for participants to study, analyse and comment on this new version of the joint operating agreement," president commissioner Juan Carlos Zepeda said. Bidders have until October 10 to comment. The commission's final clarifications will be published four days later.
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WNA - Apart from adding capacity, utilisation of existing plants has improved markedly since 2000. In the 1990s capacity factors averaged around 60%, but they have steadily improved since and in 2010, 2011 and 2014 were above 81%. Balakovo was the best plant in 2011 with 92.5%, and again in 2014 with 85.1%.
WNA - India has a flourishing and largely indigenous nuclear power programme and expects to have 14.6 GWe nuclear capacity on line by 2024 and 63 GWe by 2032. It aims to supply 25% of electricity from nuclear power by 2050.
WNA - Mainland China has 38 nuclear power reactors in operation, about 20 under construction, and more about to start construction. The reactors under construction include some of the world's most advanced, to give a 70% increase of nuclear capacity to 58 GWe by 2020-21. Plans are for up to 150 GWe by 2030, and much more by 2050.
PLATTS - "The domestic uranium mining industry needs US government assistance to survive the foreign onslaught -- particularly from Russia and Kazakhstan -- that has undermined the US uranium industry while new players -- particularly China -- will soon make the situation worse," Energy Fuels and Ur-Energy said in a petition they jointly filed with the department.