January 13, 2017 |
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 and made use of sale and leaseback operations, a maneuvre previously off-limits.
Pemex also expanded its range of investor
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