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Pemex’s dollar bonds moved higher across the curve. While the reason for the move is not known yet, reports noted that the state-owned petroleum company’s debt with suppliers rose 17.3% MoM to $9.53bn. Pemex now has $106.1bn in debts outstanding. The company has faced difficulties in the past regarding paying suppliers, contractors and oil operators. Separately, Mexican presidential candidate Claudia Sheinbaum said that her debt refinancing plan for Pemex includes venturing into new kinds of energy projects to boost certainty about its future.
Pemex’s 10% 2033s were up 1.1 points to 96.11, yielding 10.69%.
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