Pemex’s $5.5 Billion Corporate Refinancing and $2.6 Million Term Loan

Ritch Mueller advised on the transaction

Petróleos Mexicanos, trademarked as Pemex, is the Mexican state-owned petroleum company, created in 1938 by nationalization or expropriation of all private, foreign, and domestic oil companies at that time.

Pemex had total assets worth $415.75 billion, and was the world’s second-largest non-publicly listed company by total market value.

The federal government has signed a US $8-billion syndicated loan agreement with 23 banks to refinance debt owed by Pemex and renew credit lines for the heavily indebted state oil company.

The refinancing deal was made possible by a pact agreed by the government and three banks.

HSBC, JPMorgan and Mizuho Securities agreed to underwrite a US $8-billion syndicated loan for Pemex that was designed to allow the company to refinance its debt.

Ritch Mueller advised HSBC with a team including Jean Paul Farah Chajín (Picture), Daniela Solís Navarro and Rodrigo Vázquez Sainz.

Involved fees earner: Jean Paul Farah Chajín – Ritch, Mueller, Heather y Nicolau, SC; Daniela Solís Navarro – Ritch, Mueller, Heather y Nicolau, SC;

Law Firms: Ritch, Mueller, Heather y Nicolau, SC;

Clients: HSBC;