Pemex Refinances $8 Billion In Debt

(Energy Analytics Institute, Jared Yamin, 28.Jun.2019) — Mexico’s state oil and gas entity Pemex announced refinancing of $8 billion in debt with support of 23 national and international banking institutions, the company announced in an official statement.

The agreement allows Pemex to refinance up to $2.5 billion in debt and to renew two revolving credit lines for a combined amount $5.5 billion dollars. Additionally, the financial operation didn’t require any collateral, Pemex said 28 June.

The interest rate for the refinancing is Libor + 235, which is equivalent, at the close of the operation, to a fixed rate of 4.15%, Pemex also said.

Banks participated in the refinancing were: JP Morgan, Mizuho, HSBC, BBVA, BNP Paribas, MUFG Bank, Sumitomo Mitsui Banking Corporation, Bank of America, Bank of China, Banco Santander, Natixis, Barclays, Scotiabank, Société Générale , Credit Agricole, Citibank, ICBC, Goldman Sachs, Morgan Stanley, Banorte, ING, Credit and Investment Bank and DZ Bank.


© Energy Analytics Institute (EAI)

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