Pemex Urged to Resume Global Bond Sales After 3-Year Hiatus

1 articles · Updated · Bloomberg · May 27

Pemex is facing growing investor pressure to return to international debt markets, with bond buyers and analysts saying conditions now favor its first global sale in more than three years.
The proposed issuance would raise fresh cash to repurchase some outstanding bonds, a liability-management move investors say could lower the state oil company's long-term borrowing costs.
That backing has built in recent weeks after Pemex executives said they were considering tapping overseas markets, signaling a possible shift after a prolonged absence.
The debate centers on Pemex's heavy debt load, with investors framing a new bond deal as a way for the world's most indebted oil major to refinance more efficiently.

As government bailouts weaken Mexico's credit, can this new bond issue truly save the world's most indebted oil company?

Can Pemex's ambitious energy transition succeed while the company is still bleeding cash and drowning in debt?