June 5, 2019 |
Mexico's Pemex plans to return to the bond market to refinance debt in 2022, local press reports quoted CFO Alberto Velázquez as saying.
"It is not the priority right now to reduce debt. The priority is not to take on new debt," Velázquez was quoted as saying at an oil and gas event hosted by the local newspaper El Financiero.
Pemex's debt levels doubled in the past five years and interest payments grew to MXN122bn ($6.24bn) in 2018, equal to 65% of the state-owned energy company's investment
Mexico's state-owned oil company could go to the capital markets to refinance debt in 2022