Pemex will return to the Mexican Stock Exchange to issue debt worth 31.5 billion pesos.
Petróleos Mexicanos (Pemex), the world's most indebted oil company, with liabilities of more than 84 billion, will return to the debt market on the Mexican Stock Exchange (BMV) after a seven-year hiatus. As part of its strategy to diversify its financing and improve its debt profile, the state-owned company will issue 315 million stock certificates, for a total of up to 31.5 billion pesos. The placement, planned for this week, will be carried out through three series of certificates with fixed and variable rates, with terms of five, eight, and ten years. “The proceeds from the placement will be used to pay financial liabilities maturing in 2026,” according to the state-owned company's placement notices. This year alone, Pemex will have to settle 18 billion in financial debt, the highest amount this administration will have to face. The placement marks the formal return to the peso debt market after a seven-year absence and is part of a program for up to 100 billion pesos in debt issu...
