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Pemex Announces Measures To Strengthen Its Financial Condition

MEXICO

Pemex Announces Measures To Strengthen Its Financial Condition

  • GOVERNMENT CAPITAL INJECTION
  • NEW BOND OFFERING IN THE INTERNATIONAL CAPITAL MARKETS
  • LIABILITY MANAGEMENT TRANSACTION
  • PR Newswire - Petróleos Mexicanos announced today a series of measures intended to improve its financial condition, including the commencement of an offering of U.S. dollar-denominated global notes (the "New Money Securities"), subject to market and other conditions, and its intention to conduct a liability management transaction targeting certain series of PEMEX outstanding securities.
  • In addition, the Government of Mexico announced that it will make a capital injection (the "Capital Injection") of up to U.S. $3.5 billion in PEMEX in connection with the liability management transaction discussed above.
  • PEMEX intends to use the proceeds of the Capital Injection and the New Money Securities to fund the liability management transaction.
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