Mexico's Pemex said on Thursday it had launched a tender offer to prepay ar...
Mexico's Undersecretary of Finance and Public Credit Gabriel Yorio speaks during an interview with Reuters in Mexico City, Mexico September 11, 2019. REUTERS/Edgard Garrido
The offer says Pemex is looking to prepay up to $5 billion of those bonds, using a major capital injection announced by the Mexican government for this purpose on Wednesday.Pemex also offered $7.5 billion worth of bonds with maturities of seven, 10 and 30 years, news service IFR reported. It cited a source close to the deal who said Pemex had received $37 billion worth of offers.
However, years of declining oil output, mismanagement and corruption have taken their toll on the firm, which is now the world’s most heavily indebted oil company, with $104 billion in financial debt.
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