Hints and tips:
...It is the Dutch executive’s first corporate role since stepping down as head of the oil and gas major at the end of 2022....
...Schineller highlighted that Mexico had the capacity to support Pemex....
...The money would be used for general corporate purposes and refinancing, the person added....
...Alex Collins, an emerging markets corporate analyst at Pemex bondholder BlueBay Asset Management, said he had been engaging with the group for 18 months on ESG....
...Pemex plans to repay $2bn to suppliers by offering new debt Mexico’s national oil company Pemex will offer to pay back about $2bn it owes big-ticket suppliers with new debt, potentially easing conditions...
...chair of Repsol, and Isidro Fainé, the head of La Caixa and the former chair of CaixaBank, over contracts with Cenyt concerning a takeover attempt for Repsol that dated back to 2011 and which involved Pemex...
...Opinion: let us not be too curmudgeonly — the agreement to reform international corporate taxation is a big moment, writes Martin Sandbu....
...Analysts say Pemex also owes billions of dollars to suppliers and has been raiding a corporate pension fund....
...On Thursday it reported a $23bn quarterly loss, among the biggest in corporate history....
...Analysts at BBVA Corporate and Investment Banking said the 166bn peso ($7bn) outflows, taking all Mexican government securities together, was the biggest since the central bank started publishing holdings...
...Mr López Obrador has ruled out increasing Pemex’s debt and criticised rating agencies for turning sour on Pemex when he says government support has stabilised production....
...Under the deal, Pemex will offer 7-year, 10-year and 30-year paper “to support the refinancing of short-term debt”, Pemex said....
...[but] it certainly doesn’t address Pemex’s structural challenges,” said Greg Magnuson, a senior corporate analyst at Neuberger Berman....
...Pemex on reserve replacement to underpin future output....
...Pemex said it saw “gradual advances” in all areas. “The trend is clear . . . Pemex is moving in the right direction,” Alberto Velázquez, finance director, told a conference call with analysts....
...If companies majority-owned by governments are added, their debt load is equivalent to half of corporate debt securities....
...“We could see considerable selling,” added Siddharth Dahiya, head of emerging market corporate debt at Aberdeen Standard Investments....
...“Inegi also revised some past few months of IGAE data, thus providing a more accurate picture of recent economic performance,” BBVA corporate and investment banking strategists wrote in a note to clients...
...Mexico’s populist president Andrés Manuel López Obrador is sinking billions into the struggling state-owned oil behemoth Pemex....
...Second, corporate governance reforms and a commitment to public accountability must go beyond pithy slogans....
...The very model of the corporate raider, he was at the vanguard of the modern shareholder rights movement....
...More than $67m of the company’s $669m of corporate debt was on loan, according to data provider IHS Markit.....
...S&P sees “a possibility of at least one in three that we will lower the sovereign rating during the coming year”, which could lead to a cascade of corporate downgrades....
...One-fifth of the negative-yielding EM debt comes courtesy of corporate issuers, such is the demand for income from investors grappling with vanishing yields in the eurozone’s core....
...“The fight against fuel theft in Mexico is positive since this could be the starting point for a much longer term solution which increases the company’s annual income by about $3bn and improves corporate...
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