Mexico |Higher probability of stabilizing production w/greater fiscal incentives for Pemex

Summary

Today Pemex signed a letter of commitment with three financial institutions to refinance USD 2.5 billion of its debt. It also renewed two lines of credit worth USD 5.5 billion, extending the repayment period from three to five years.

Key points

• Key points:
• This renewal and refinancing correspond to committed lines of credit that mature at the end of 2019 and the beginning of 2020.
• Pemex's previous administration had signed the aforementioned credit lines—worth USD 8 billion—and that the renewal aims to extend the deadline and reduce the financial cost.

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