Mexico pulls in $12 billion to prop up indebted oil producer Pemex
MEXICO CITY, July 29 (Reuters) - Mexico placed $12 billion in a debt offering to support indebted state oil producer Petroleos Mexicanos (Pemex), the nation's finance ministry said on Tuesday.
The offering came in the form of pre-capitalized securities, or P-Caps, the ministry said in a statement. The funds will go toward covering financial obligations and debt payments due in 2025 and 2026, it added.
Total demand for the dollar-denominated securities reached $23.4 billion, allowing Mexico to place more than the $10 billion originally planned, the ministry said.
President Claudia Sheinbaum's administration has sought to shore up Pemex's finances, as the oil firm - the world's most indebted energy company - owes billions to suppliers and creditors.
At the end of the second quarter , Pemex held a financial debt of $98.8 billion and owed providers $22.79 billion.
Sheinbaum has pledged to boost production to 1.8 million barrels per day, but firm executives acknowledged on Monday Pemex will need so-called mixed contracts with private companies and continued government support to reach that target.
Related Articles
All Eyes on August CPI: The Data That Could Trigger a Jumbo Fed Cut — Or Not
TradingKey - The key question now is whether the August CPI report, to be released on September 11, could push the Fed toward a more aggressive 50-basis-point cut — as it did in September 2024.
Oracle Q1 FY2026 Earnings: Cloud Surge and Record RPO Fuel AI Optimism
TradingKey - Oracle Corporation (NYSE: ORCL) posted mixed Q1 FY2026 results, with total revenue and adjusted EPS slightly below consensus amid a shift to cloud services, but cloud revenue beat expectations with robust 28% growth. A massive RPO backlog of $455 billion, up 359% YoY
U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?
TradingKey - On 11 September 2025, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI. As a result, headline CPI year-over-year may climb to 2.9%, up from 2.7%
Unlocking Gold’s Next Leg: $4,000 in Reach by 2025？
TradingKey - Gold has kicked off a fresh uptrend in early September, breaking out of months of compression and reclaiming key territory. The decisive move above $3,500 establishes a new support base and puts higher objectives back on the table for the weeks ahead
2025 Hottest US IPO Week: Klarna, Gemini, Figure Set for “Triple Launch”
TradingKey - 5 companies are now pricing their U.S. initial public offerings (IPOs) for the week starting September 8, with a total expected fundraising exceeding $3 billion, making it the busiest IPO week of 2025. Investors are closely watching the debut performance of Klarna, Gemini, and Figure.
