(Adds details of bond issues)
MEXICO CITY, Jan 21 (Reuters) - Mexican state oil firm Petroleos Mexicanos said on Tuesday it has issued $5.0 billion in bonds with 11-year and 40-year maturities, which it will use to refinance existing debt.
Pemex said part of the funds from the bond issues will be used to repurchase dollar-denominated debt maturing in 2020, and the remainder will be used for refinancing purposes.
It is the first time that Pemex, which has financial debt of around $99 billion, has issued a 40-year bond.
The 11-year bond has a coupon of 5.95%, and the 40-year bond a coupon of 6.95%.
President Andres Manuel Lopez Obrador inherited Pemex with $105.8 billion in financial debt when he took office in December 2018. His government has eased Pemex’s huge debt burden, providing $9.5 billion in support via capital injections, tax breaks and debt refinancing - in effect, transferring some of the company’s risk to the federal government.
Reporting by Ana Isabel Martinez; Writing by Anthony Esposito; Editing by Muralikumar Anantharaman and Leslie Adler