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Mexico to inject nearly $14 billion into Pemex after fresh debt offers
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Mexico to inject nearly $14 billion into Pemex after fresh debt offers
Sep 17, 2025 1:43 PM

MEXICO CITY, Sept 17 (Reuters) - Mexico will inject

nearly $14 billion into highly indebted state oil company Pemex

after it raised funds through two recent bond issuances on

international markets, the nation's finance ministry said on

Wednesday.

The

dollar-denominated

and

euro-denominated

bond issues will largely go toward

buying back $9.9 billion worth of Pemex bonds

, the finance ministry said, after that buyback closed early

because demand exceeded the offer.

This will "smooth out" Pemex's debt maturity profile,

the ministry said, as the state company had payments coming due

in 2026 and 2027.

Pemex is one of the world's most heavily indebted energy

companies, with nearly $100 billion in financial debt and some

$22 billion owed to suppliers and contractors.

In August, the government

rolled out a sweeping plan

to end its handouts for the company by 2027.

"The transactions will equivalently reduce Pemex's

previously contracted foreign currency obligations, in order to

stabilize the public company's debt at a level that will allow

it to strengthen its credit and liquidity profile while reducing

its financing costs," the ministry said in a statement.

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