Business Services Industry
Eximbank to guarantee US$1.1-billion in loans to Pemex.
Internet Securities, October, 2002
MEXICO CITY, Oct 9, 2002 (El Economista/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- The U.S. Export-Import Bank (Eximbank) has granted Petroleos Mexicanos (Pemex) a guarantee of US$1.1 billion, which will be used by the company to finance various investment projects related to light oil and gas extraction. The resources will gradually used for the import of capital goods or the payment of services contracted with U.S companies, reported Pemex.Pemex said the resources would be channeled to projects that are being developed in the Cantarell field and Burgos Basin as well as to stratregic gas programs.Pemex officials said Eximbank will not loan the funds directly, but will act as guarantor so that Pemex can contract a credit with a commercial bank. The...
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