Mexico's Pemex hopes to return to capital markets when conditions permit, minister says
MEXICO CITY, May 9 (Reuters) - Mexican Finance Minister Edgar Amador said on Friday that state oil company Pemex hopes to return to capital markets for financing in the medium term, when conditions are favorable.
Pemex has a financial debt of $101 billion and has not turned directly to the markets to raise funds in several years due to the high costs it faces.
"We have to have a conversation with the market, with investors, eventually, in the medium term - not at this moment. Right now, the conditions are not ideal for that to happen," Amador said in an interview with Bloomberg Linea.
"What we have to do is create those conditions so that the company can turn to capital markets," he added.
When asked if the option of going to those markets was off the table, he responded: "That is the aspiration."
Mexico's finance minister sits on Pemex's board of directors.
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