Corporate Issuer of the Year

Jan 13, 2017

Amid a concerted bid to address its leverage, Pemex tapped a broad range of financing sources in 2016, returning to markets after a long absence and finding new routes to capital raising

Katie Llanos-Small

Keywords: Pemex Cemex Bonds

Petróleos Mexicanos

When Mexico opened its energy market to foreign investment, it had not counted on oil prices tumbling shortly after. But the two events pushed Mexican state-owned oil company Pemex to aggressively rethink its balance sheet — and opened new opportunities to do so. 

In the year under consideration for these awards, Pemex executed a series of capital markets transactions to improve its leverage, taking full advantage of a broadening array of financial tools. The company carried out a liability management exercise for the first time in nearly a decade...

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