The Treasury concludes the refinancing of Pemex’s debt

The Treasury concludes the refinancing of Pemex’s debt

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The federal government contributed 3.5 billion dollars to enhance the process “the refinancing of the debt was focused on exchanging bonds maturing in the short term for a new ten-year bond,” the agency reported.

With the proceeds of the refinancing, bonds were repurchased at a lower price and maturing in the medium term.

“Likewise, it was possible to compress the rate differential that Pemex paid over the sovereign rate by 50 basis points, thereby achieving a reduction in the financial cost of 180 million dollars per year,” added Hacienda.