December 2017 by Finacity
Stamford, CT – December 26, 2017 – Finacity Corporation (“Finacity”) is pleased to announce that it has successfully co-arranged a MXN$4.35 Billion trade receivable funding program for Petróleos Mexicanos (“PEMEX”), Mexico’s state-owned petroleum company. The receivable funding program has a tenor of 28 years and monetizes the payments from Centro Nacional de Control del Gas Natural (“CENEGAS”) to PEMEX for the purchase of existing pipeline assets.
PEMEX was created in 1938 and is one of the largest companies in Latin America. PEMEX is one of the few fully integrated oil companies, developing the entire productive chain: exploration, production, industrial processing/refining, logistics and marketing. They generate approximately 2.5 million barrels of oil daily and more than 6 million cubic feet of natural gas. PEMEX operates 6 refineries, 8 petrochemical complexes and 9 gas processing complexes, as well as 83 land and maritime terminals and 10,000 service stations throughout Mexico.
About Finacity Corporation
Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity currently facilitates the financing and administration of approximately $100 billion of receivables annually. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in more than 175 countries.
For more information, please contact Finacity Corporation:
Antonio Villa, Managing Director