The transaction will help finance exports to Pemex of American-made oil- and gas-field equipment.
The U.S. Export-Import Bank this week approved two authorizations totaling $1 billion in financing to support the export of U.S. goods and services to Petróleos Mexicanos (Pemex), Mexico’s national oil-and-gas company.
“Capital-markets financing is an innovative and proven approach that helps to provide funding for Pemex’s purchases of made-in-America goods and services at no extra cost to the U.S. Treasury,” said Ex-Im Bank Chairman and President Fred P. Hochberg in a statement.
The bank said the transaction will help finance exports to Pemex of American-made oil- and gas-field drilling services, drilling platforms, turbine generators, mud pumps, chemicals, spare parts, geophysical studies and safety equipment, in addition to other U.S.-produced goods and services.
Pemex will issue Ex-Im Bank-guaranteed bonds in the capital markets to fund the purchases of these exports.
Ex-Im Bank approves $1 billion in finance to Pemex
