*Mexico’s finance ministry (SHCP) has confirmed recent bond issuances to support the indebted state-run oil company Petróleos Mexicanos (Pemex). These include
dollar-denominated and
euro-denominated bond offerings worth US$13.8bn which will largely go towards buying back US$9.9bn worth of Pemex bonds. According to an SHCP statement, the resources generated by these operations will enable Pemex to meet objectives set out in its strategic plan which are focused on: strengthening capitalisation levels; reducing its debt; managing obligations with creditors; financing investment projects; paying off short-term debt and improving its maturity profile; and generating savings on interest payments.
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