Corporate Issuer of the Year

Corporate Issuer of the Year

Mexico Corporate & Sovereign Strategy

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 and made use of sale and leaseback operations, a maneuvre previously off-limits.  Pemex also expanded its range of investors.

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