This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Pemex to Receive $6.7bn Cash Transfer from Mexico Government
November 18, 2024
Pemex will receive a MXN136bn ($6.7bn) cash transfer from the government, as per Mexico’s 2025 budget proposal. The funds will primarily be used to pay off debt owed to banks and its bonds. Pemex’s total budget for the year however, was cut by 7.5%. Mexico also projects Pemex’s oil output will reach 1.89mn barrels per day, with an average oil price of $57.80 per barrel, and exports at 892,000 barrels per day. Pemex has upcoming debt maturities of $9bn in 2025 and $13bn in 2026. The new Mexican President Claudia Sheinbaum’s government, continues the financial support initiated by her predecessor, who allocated as much as $80bn in capital injections and tax breaks to Pemex during his term. Separately, state utility CFE will receive MXN 85bn ($4.2bn) for 2025, maintaining funding levels from 2024.
Pemex’s dollar bonds have been trading with a positive bias over the last week – its 5.95% 2031s are trading at 85 cents on the dollar, yielding 9.18%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
Pemex Reports Worst Loss Since Pandemic
July 29, 2024
Mexico Cuts Pemex’s Debt Burden by $3.2bn
January 10, 2022
Pemex Refinery Project Cost to Double to $18bn
June 23, 2022
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.