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Pemex May Seek Return to Capital Markets

MEXICO
  • Pemex reported $9.4 billion in losses in the final quarter of last year as the state oil giant failed to revive sinking oil production and scrambled to fund its mountain of debt, which includes around $8 billion maturing this year.
    • “We are addressing our upcoming maturities with a three-component strategy,” Jose Alberto Jimenez, Pemex’s associate managing director of finance, speaking on a call to investors Monday.
    • “One is an orderly return to the market.” The company is also working with banks to address upcoming loan maturities and could tap additional government support if needed, he said. (BBG)

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