Pemex Secures $500 Million Bridge Loan for Refinery Takeover
- Banks to provide $500 million bridge loan for Shell refinery
- Pemex to spend $1.6 billion total on Texas refinery takeover
The Deer Park Refinery in Deer Park, Texas.
Photographer: F. Carter Smith/BloombergThis article is for subscribers only.
Barclays, SMBC and Banorte are providing a $500 million bridge loan to Petroleos Mexicanos to help finance its takeover of Royal Dutch Shell Plc’s Deer Park refinery in Texas.
The commercial bank bridge loan will help cover the total purchase cost of $1.6 billion, a sum that includes refinery assets, inventories and debts, according to people familiar with the situation who asked to remain anonymous because the information isn’t public.