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Pemex Credit Will Liquidate Debt with 1,200 companies: Banobras

Financing is provided by the Bank of Works and Public Services, along with Nacional Financiera and the National Foreign Trade Bank
By The News · 27 of March 2016 20:06:46
Director of Banobras, Abraham Zamora, 50128051. México, D.F.- El secretario de Hacienda y Crédito Público, Luis Videgaray Caso, presentó a Abraham Zamora Torres como nuevo director general Banobras, en sustitución de Alfredo del Mazo, quien renunció al cargo.NOTIMEX/FOTO/JOSÉ PAZOS/JPF/POL/, Photo: Notimex/José Pazos

The 15 billion pesos Petroleos Mexicanos (Pemex) obtained from the development bank to pay suppliers, will allow the company to settle its debt with a 1,200 companies, said Abraham Zamora, director general of the Bank of Works and Public Services (Banobras).

51203146. Houston, 3 Dic 2015 (Notimex-Especial).- Petróleos Mexicanos (Pemex) inauguró hoy aquí su primera estación de gasolina en Estados Unidos, la estación es propiedad de Mike Virani, un inmigrante paquistaní. NOTIMEX/FOTO/ESPECIAL/EBF

Pemex is focused on paying off its debt. Photo: Notimex

With this credit line, the company will lower its debt to 85 million pesos, amounting to approximately 90 percent of its suppliers, like the most micro, small and medium enterprises, said Zamora.

Of the total, Banobras granted 9.7 billion pesos, Nacional Financiera (Nafin) two and three billion, and the rest will be dispersed by the National Foreign Trade Bank (Bancomext).

“We participate in opening the line of credit, and in this case our customer is going to determine the strategy of how it will pay that which is still pending,” he explained.

He said that the financing of Banobras will be used to pay for infrastructure or companies that made purchases of machinery and equipment, and the rest will be used to confirm the mandate of each development bank.

THE NEWS/JMR