Pemex Issues Bonds, Buys Back Debt

摘要

Mexican state oil company Pemex has issued $4 billion in bonds and repurchased debt worth $1.5 billion as part of a plan to strengthen its finances, CFO Juan Pablo Newman said on Monday. Struggling with major losses stemming from lower oil prices, sliding production, rising debt and budget cuts, Pemex is also facing competition from private oil companies since the government ended its 75-year oil and gas monopoly in 2013 (OD Sep.29'16).