Petroleos Mexicanos (Pemex) recently sold the remaining $950 million in bonds authorized by its $5 billion future flow oil-backed program through Morgan Stanley Dean Witter.

The transaction consisted of a $150 million tranche of 11-year bonds featuring a 7.8% coupon and wrapped by MBIA-Ambac and an unwrapped $800 million tranche of eight and a half year bonds yielding 9.03%.

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