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Mexico again taps debt markets to prop up state oil company Pemex
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Mexico again taps debt markets to prop up state oil company Pemex
Sep 16, 2025 11:56 AM

MEXICO CITY, Sept 16 (Reuters) - The Mexican government

turned to international debt markets for the second time this

week to prop up flagging state oil producer Pemex, launching $8

billion in bonds on Tuesday.

The fresh offer, reported by IFR, LSEG's fixed-income

news service, will help Pemex pay for a $9.9 billion bond

buyback launched earlier this month.

That buyback offer was oversubscribed by the early

tender deadline of Monday, Pemex said.

Tuesday's federal bond launch was split into $1.5

billion in notes due 2031, $4 billion maturing in 2033 and $2.5

billion maturing in 2025, IFR reported. Pricing was tighter than

initially expected, showing investor appetite in the offer.

The deal follows a 5-billion-euro bond issue launched on

Monday. In July, Mexico sold $12 billion in the form of

pre-capitalized securities, or P-Caps, for Pemex.

Pemex is one of the world's most indebted oil firms,

with around $100 billion in financial debts. In August, the

government rolled out a sweeping plan to end its handouts for

the company by 2027.

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