by Amruth Sundarkumar | Feb 28, 2023 | High Yield Bonds
Pemex reported a loss of $9.4bn in its 4Q 2022 results vs. a $2.5bn loss in the quarter prior to it. This comes at a time when concerns are rising regarding the petroleum major’s ability to pay off its debts due this year. “We are addressing our upcoming...
by Amruth Sundarkumar | Jan 30, 2023 | High Yield Bonds
Dollar bonds of Pemex were higher by as much as 3% across the curve as Mexican President AMLO said that the government could potentially take over some of Pemex’s obligations or cut the company’s taxes. He said, “It has been done since the first year, and we are...
by Amruth Sundarkumar | Jan 27, 2023 | High Yield Bonds
Pemex’s dollar bonds slid by ~1 point with Bloomberg noting that markets assimilated the news of its $2bn bond issuance plan. They noted that raising the amount would add more pressure on the company’s finances. This would further be subject to difficulty...
by Amruth Sundarkumar | Jan 25, 2023 | High Yield Bonds
Pemex’s dollar bonds were higher by ~1 point with sources noting that the company is planning to issue at least $2bn in bonds before a blackout period starts on February 12. Earlier this month, sources said that the Mexican Finance Ministry wanted Pemex to be...
by Amruth Sundarkumar | Jan 4, 2023 | High Yield Bonds
Pemex is expected to pay its debts due in 1Q 2023 without government help as per sources. They noted that the Mexican Finance Ministry wants Pemex to be able to meet its dues by itself unless it does not have sufficient cash. Mexico is known to have been providing...
