January 13, 2017 |
Pemex/KKR sale and leaseback
For Mexican state oil company Pemex, 2016 was about getting its financial house in order.
Faced with low global oil prices, slumping production and 16 consecutive quarters of losses, the highly leveraged company embarked on an ambitious austerity plan.
Forced to slash its budgets, Pemex worked to improve its debt profile, refocus its financing strategy and implement a financial overhaul at a time when Mexico’s energy reform has opened the sector to private investment from international players.
Traditionally one of the biggest corporate bond issuers in emerging markets, Pemex sought new ways to raise capital as it focused on strengthening its balance sheet an
This alternative financing deal paved the way for other private equity firms to invest in Mexico's energy sector