Mexico City, March 14 - State-owned oil giant Petroleos Mexicanos said
it sold 300 million Swiss francs ($327 million) worth of bonds on the
international market.

The seven-year bonds, which carry a 2.5 percent coupon, were sold in Switzerland to institutional investors and private banks.

The proceeds from the bond issue will be used to cover investment and debt refinancings, Pemex said in a statement.

Pemex had total debt of $55.95 billion at the end of 2011, with 85.9 percent in long-term bonds.

Pemex, Latin America's largest corporation and the world's
third-largest oil producer, has a monopoly over the Mexican petroleum
industry.

The state-owned corporation is the biggest source of revenue for the Mexican Treasury. (IANS)