Pemex Issues Bonds Worth $5 Billion As Part Of Refinancing Operation - Company Statement

MEXICO CITY (Pakistan Point News / Sputnik - 22nd January, 2020) Mexico's state-owned Petroleos Mexicanos (Pemex) company says it is issuing bonds worth $5 billion, planning to use the funds for debt refinancing.

"Today, Petroleos Mexicanos (Pemex) carried out a debt refinancing operation with the placement on the international capital markets of two reference bonds with 11-year and 40-year maturities, respectively, for a total amount of 5 billion Dollars," the company said in a Tuesday statement.

Part of the resources from the issuance will be used for the repurchasing of dollar-denominated debt maturing in 2020, while the rest will be used for company refinancing purposes, Pemex said.

Investors from the United States, Europe and Latin America participated in the Tuesday refinancing operation, according to Pemex.

Pemex's oil output has been dropping in recent years, with the company having accumulated around $100 billion in debt.