Pemex pays off suppliers with bond proceeds

Pemex pays off suppliers with bond proceeds

Economy & Policy Bonds Debt Funds Mexico Capital Markets Asset Management Project & Infrastructure Finance Energy

Mexico's state-owned oil company Pemex has made $1.43 billion in payments to contractors and suppliers, using the proceeds from a recent bond sale for $2 billion, local business newspaper El Economista reported. The payments, which represented about 10.8% of the company's debt, went to 29 contractors and suppliers, according to the newspaper. Local drilling company Opex received $189 million, while US oil field services company Baker Hughes got $179 million, steel pipe maker Tubacero $177 millio

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