Mexico's ODH bonds rally on charter extensions

April 13, 2015 3:30 PM

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NEW YORK, April 13 (IFR) - Bonds of Mexico's Offshore Drilling Holding enjoyed a seven-point rally Monday on news that the company had extended rig charter contracts with state-controlled oil giant Pemex.

The 8.625% 2020s were quoted as high as 87.00-89.00 Monday after being spotted in the low 80s Friday, before ODH told analysts that charters on rigs backing the bond had been extended.

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