S&P Global Ratings assigned its long-term national scale debt ratings – CaVal – of ‘mxAAA’ to the National Bank of Public Works and Services’ (Banobras) long-term development banking stock certificates.
The ratings assigned to these issues are equal to Banobras’ long-term national scale issuer credit rating (mxAAA).
Source: S&P Global Ratings
In 2024 Mexico will reach self-sufficiency of fuels; In three years, the use of the National Refining System went from 32% to 50%
The goal for 2023-2024 is to process two million barrels of oil a day and produce 858 thousand barrels of gasoline and 542 thousand of diesel.
Source: Presidency of México
PEMEX signed an agreement to purchase 50.005% of Shell’s stake in the refinery located in Houston, Texas.
PEMEX will own 100% of the refinery once it has the regulatory approvals in the United States and the transaction is completed in the last quarter of the year.
With this transaction, PEMEX seeks to advance the country’s energy self-sufficiency.
Source: PEMEX
The rating agencies recognize the solid management of the Mexican government’s debt during the pandemic, which limited indebtedness. They also point out that sustainable public finances support the country’s macroeconomic stability.
Source: SHCP
It is estimated that by early 2022 the economy will fully regain its pre-pandemic level. The investment in infrastructure, the deepening of the financial sector, the reduction of the different gaps that restrict development and the greater commercial integration with our partners in the the United States-Mexico-Canada Agreement (USMCA), are factors that will help with the recovery of the Mexican economy.
Source: Ministry of Finance
The resources obtained from the placement of the Sustainable Bonds will be used for projects with social and environmental impact in eight different sectors.
The transaction, which brought together more than fifty investors and accumulates a demand of 3.5 times the amount placed, maintains Banobras’ position as the main issuer of thematic bonds in the local market.
Source: Banobras
Based on definitive figures, Petróleos Mexicanos reports that oil production in 2020 stood at 1,705 thousand barrels per day average per year. Exceeding the average annual production of 2019 by four thousand barrels per day.
With this production figure, Pemex ends the period of fifteen consecutive years of falls in oil production.
Sorce: PEMEX
The Ministry of Finance, within the framework to strengthen its actions for the economic reactivation, carried out a management operation of the stock market liabilities of the National Infrastructure Fund (FONADIN), which obtained a total amount equivalent to 23,853 million pesos, where it took advantage of the low rates of interest to strengthen its finances and thus be able to continue as the Federal Government’s vehicle to promote infrastructure development and continue to co-invest, with the private sector, in projects with high social impact.
The issuance of new certificates reached a total demand of 2.63 times the amount placed, and the coupon rates were determined with the lowest surcharges in history with respect to UDIBONOS for the terms issued. This is the largest exchange between Stock Certificates in the history of the local market of the same issuer.
Source: Ministry of Finance
The Ministry of Finance announces mechanism to promote investment in infrastructure through projects financed with private capital. Four criteria were established to select projects:
That private investment be greater than 50 percent in each project.
· Projects in the energy, communications, transport, tourism, water, sanitation and environment sectors.
· That each project has a clear definition regarding the benefits to be obtained, as well as its scope, cost and execution time.
· That they have no impact on public debt.
Source: Presidency of the Republic
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