January 13, 2017 |
At the beginning of the year, we made deleveraging a priority and set out several goals.
Our first question was how could we diversify our investor base? The second was how could we diversify our financing sources utilizing some of the instruments now available to us under the energy reform? The third was how could we increase our liquidity?
In that sense, our sale-and-leaseback deal with KKR met all three of the objectives. It allowed us to finance ourselves with equity instead of debt and it was a complement to our overall debt reduction strategy. We wanted to send a message to the market that Pemex had at its disposal a number of tools to provide the company with the necessary liquidity.
Pushing ahead with its financial overhaul, Pemex is focusing on debt refinancing, says Juan Pablo Newman