Mexico Issues $12 Billion in Debt to Prop Up Pemex ...Middle East

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Mexico Issues $12 Billion in Debt to Prop Up Pemex
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Mexico has issued $12 billion worth of new debt in a bid to provide support for its troubled oil and gas company, Pemex. The issue matures in 2030 and is denominated in dollars, Bloomberg reported, citing an unnamed source. It is also larger than initial plans, the report said, with initial plans being for up to $10 billion in debt finance. The debt instrument that the government is using is called pre-capitalized notes, whose aim is to help strengthen the balance sheet of the company without saddling the government with direct guarantees for financial…

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