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Mexico's state oil firm Pemex has reduced its debt obligations in a buyback operation costing US$1.5bn and has sold US$4bn in bonds.
The operation to buy back the dollar-denominated debt, Pemex said in a statement, reduces the company's refinancing risk and strengthens its financial position.
Pemex said it sold seven-year bonds at a yield of 4.625% and 31-year bonds at a yield of 6.75%, adding that the sale attracted US$8.7bn in investor demand.
Part of the proceeds of the sale will be used to finance the company's 2017 operations.
Pemex also carried out a bond exchange involving US$1.6bn, according to the Wall Street Journal.