Dec 6 – Petroleos Mexicanos (Pemex) said on MondayPEMX.ULit will issue new debt and that the Mexican government plans to inject up to $3.5 billion into the state oil company to help manage its liabilities.
In a statement, the heavily indebted Pemex said it was planning a series of measures to improve its financial condition, including offering U.S. dollar-denominated global notes, subject to market and other conditions. [Pn5C5d3va]
Pemex, which reported financial debt of some $113 billion at the end of the third quarter, also said it would conduct “a liability management transaction” targeting certain series of its outstanding securities.
It aims to use the proceeds of the government capital injection and the notes, which it referred to as “new money securities,” to fund the liability management transaction.
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