LONDON - Petroleos Mexicanos, the Mexican oil company, has launched a one-year, $100 million revolving credit facility, according to Australia and New Zealand Banking Group.

The facility carries a commitment fee of 0.125% per year and a maximum interest rate margin over the London interbank offered rate of 0.875% according to the banking group, which arranged the credit.

Bankers said they expect to see more such issues from Pemex as it replaces expensive credits dating from reschedulings in the early 1980s.

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