Pemex Shelves Plans for Goldman-Led Asset-Backed Debt Deal
Mexican state-owned oil company Pemex has shelved plans for a Goldman Sachs-led asset-backed debt deal, according to people familiar with the matter.
Background
Pemex, the world’s most indebted oil company, had been in talks with Goldman Sachs to arrange a $2 billion asset-backed debt deal. The deal was intended to help the company raise funds to pay for its operations and investments.
The deal was expected to be structured as a securitization of Pemex’s receivables, which would have been backed by the company’s oil and gas production. The deal was also expected to include a $1 billion loan from Goldman Sachs.
Reasons for Shelving the Deal
The people familiar with the matter said that Pemex had decided to shelve the deal due to a number of factors.
First, the company had been unable to secure the necessary financing from Goldman Sachs. The company had been seeking a loan of $1 billion, but Goldman Sachs had been unwilling to provide the full amount.
Second, the company had been unable to secure the necessary regulatory approvals for the deal. The Mexican government had been unwilling to approve the deal due to concerns about the company’s financial health.
Third, the company had been unable to secure the necessary support from its creditors. The company’s creditors had been unwilling to support the deal due to concerns about the company’s financial health.
Finally, the company had been unable to secure the necessary support from its shareholders. The company’s shareholders had been unwilling to support the deal due to concerns about the company’s financial health.
Impact of the Decision
The decision to shelve the deal is likely to have a significant impact on the company’s financial health. Without the additional funds from the deal, the company will be unable to pay for its operations and investments.
The decision is also likely to have a negative impact on the company’s credit rating. Without the additional funds from the deal, the company’s credit rating is likely to be downgraded.
Alternative Solutions
In light of the decision to shelve the deal, Pemex is now exploring alternative solutions to raise funds.
The company is reportedly in talks with a number of banks to arrange a $2 billion loan. The loan would be used to pay for the company’s operations and investments.
The company is also reportedly in talks with a number of investors to arrange a $2 billion equity offering. The equity offering would be used to pay for the company’s operations and investments.
Outlook
It remains to be seen whether Pemex will be able to secure the necessary financing to pay for its operations and investments. The company’s financial health is likely to be a major factor in determining whether it is able to secure the necessary financing.
In the meantime, the company is likely to continue to explore alternative solutions to raise funds. The company’s ability to secure the necessary financing will be critical to its long-term success.