Pemex Stares Down $10 Billion Bond Bill as Mexico Steps Back
- State oil driller has $105 billion in financial obligations
- Investors weigh odds of new issuance, other financing options
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Mexico’s debt-laden oil driller, Petroleos Mexicanos, is searching for funds to make almost $10 billion in bond payments this year — a sum that neither the company nor the government included in their annual budgets.
While President Andres Manuel Lopez Obrador promises his government would step in to help the company if necessary, the Finance Ministry expects Pemex to foot the bill in the first quarter. After providing the driller with financial support in recent years through tax breaks and capital injections, it stopped covering Pemex’s debt amortizations in the second half of 2022.