LatinNews Regional Monitor: Mexico - 24 September 2019

* Mexico’s state-owned oil firm Pemex has announced the success of an operation to pre-pay debt from bonds maturing between January 2020 and September 2023, for a total of US$5.01bn (slightly above the established target of US$5bn). Pemex reduced its debt for bonds maturing in 2020, 2021, 2022, and 2023 by US$734.3m, US$2.78bn, US$711.1m, and US$778.8m respectively. Pemex used an equity capital injection of US$5bn, previously announced by the finance ministry and funded by the federal treasury. The company has highlighted that this successful operation “strengthens [its] financial position…and reduces the refinancing risk for the next years”.

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