PEMEX Wins Latin American Bond Award

The International Financing Review (IFR) announced yesterday that Petróleos Mexicanos (Pemex) won the “ Latin American Bond of the Year ” award for the issuance of USD 7.5 billion in three sections that were part of the refinancing and debt reduction operation of the oil company last September.

IFR is a prestigious leading publication in the global market intelligence supply. The publication argues that the issuance of the USD 7.5 billion bond and the exercise of liability management allowed Pemex to restructure just over USD 20 billion and give it space to focus on its main business, which is oil production.

The award also acknowledges that the transaction showed that Pemex has real access to financial markets and helped restore investor confidence at a crucial time to obtain financing, which had been put at risk in recent years due to high indebtedness and low oil production.

IFR mentions that the winning transaction also won the recognition of the rating agencies, as they considered that the operation improved the liquidity of the company.

The IFR awards ceremony is considered the main event of the financial industry, which is attended by the world leaders in investment banking. The prize will be awarded during the 25th IFR Awards Ceremony on January 28, 2020 at Grosvenor House in the city of London, United Kingdom.

Pemex states: “receiving this recognition constitutes a great incentive that allows us to reaffirm that a new model of operational and financial management of our company is possible, a new model based on zero net indebtedness, in absolute transparency, in operational efficiency and with a Strict financial discipline. We will continue working to contribute to the growth and economic development of our country”