Bonds, Loans & Derivatives Mexico September 22, 2016
Redefining PEMEX Financial consolidation Cost structure Short-term adjustment Challenges Business strategy based on low oil prices Use all instruments and Long-term flexibility available from Oportunities the Energy…
2016 Budget Adjustment Lines of Action Corporate Other Ind. Transf. E&P2 Total MXN Billion SPEs1 Generate efficiencies and reduce costs to increase operational productivity and 13.1 1.9 0.8 13.1 28.9 promote a rational use of…
Federal Government Support Measures Liquidity Improvement Cash Flow Injection MXN 26.5 billion capitalization MXN 73.5 billion Exchange of MXN 47 billion promissory to permanently reduce note1 for BONDES D, sold on August 15,…
Reduce and Regularize Payment to Suppliers The payment regularization to suppliers has the objective of making the accounts payable that are transferred from one year to the next to converge in a normal operating level. As of August…
Performance vs the Energy Industry PEMEXs financing cost in the U.S. dollar market is positively compared to its peers in Latin America, which reflects the companys attractive cost structure and its importance to Mexicos public…
Debt Profile PEMEXs portfolio strategy has prioritized the development of new sources of financing to diversify the its investor base and currencies. To reduce external impacts, the company has chosen a hedging strategy that matches…
Low Refinancing Risk An indebtedness strategy has been exposed to improve the amortizations profile and extend the average term and duration of the debt. Years Average Term of the Debt Adjusted Duration of the Debt 8.0 Years 7.0…
Market Development PEMEX stands out due to its leadership in the domestic and international markets by the creation of new references and the implementation of liability management structures that promote efficiency and depth in the…
Financing Strategy Domestic Market PEMEX has implemented several mechanisms that offer more liquidity in its peso- denominated bonds. Description Advantages Allows the company to issue debt in Clearable through international…
Maintain Access to Financing In accordance with its strategy, PEMEX has maintained access to different markets and currencies to satisfy its 2016 financing needs. February 4. USD 5 billion in three tranches due 3, 5 and 10 years…
Exploring New Financing Structures Before the Energy Reform With the Energy Reform Strategic alliances with third parties to complement Through the generation PEMEX technically, Balance Joint Ventures of own resources economically…
Materialization of the Energy Reform First deep water farm out through the Trin field in December 2016. Trin Year Discovered 2012 Great White 3P Reserves 485 MMboe 28 Km Water Depth 2,532 m 179 Km 1 Maximino Estimated…
Reflection in the Markets As a result of implemented measures and PEMEXs financing strategy has recorded a rally against its main benchmarks in USD, showing a reduction of around 123 bps during the year. PEMEX USD 5Y Budget Moodys…
Conclusion PEMEX has adapted in a timely manner to the adverse environment in the global oil and gas industry, with a vision that promotes the companys sustainability in the long-term. The companys financial structure has been…
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