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Pemex Debt, November Inflation Due Thursday

MEXICO
  • Pemex will sell between $700 million and $1 billion in dollar-denominated bonds as part of a government effort to shore up the state oil giant’s finances, Deputy Finance Minister Gabriel Yorio said in an interview. (BBG)
  • The issuance is part of a government rescue plan announced yesterday that includes a $3.5 billion cash injection, which the producer will use to pay down obligations and embark on a series of bond buybacks. The overall deal will result in Pemex’s net debt falling by about $3.5 billion, Yorio said by telephone.
  • Mexico Gross Fixed Investment Rose 9.9% Y/y in Sept. (BBG)
  • November CPI in Focus scheduled for Thursday. Annual CPI is expected to rise to 7.24%.
  • The December Banxico meeting falls on December 16.

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