PEMEX’s $8 Billion Financing

Holland & Knight represented the Industrial and Commercial Bank of China (ICBC) in Petróleos Mexicanos’ (PEMEX) recent financing totaling $8 billion, where ICBC acted as part of a syndicated lenders party. Mizuho Bank, Ltd. acted as administrative agent and global coordinator. HSBC Securities (USA), Inc. and JPMorgan Chase Bank, N.A. acted as global coordinators.

The transaction was divided into a senior unsecured syndicated term loan facility agreement for an amount up to $2.5 billion and a senior unsecured syndicated revolving credit facility agreement for an amount up to $5.5 billion.

Petróleos Mexicanos (trademarked and better known as Pemex) is a Mexican state-owned petroleum company, created in 1938 by nationalized petroleum and the expunging of all private foreign and domestic companies at that time.

ICBC, acting as part of a syndicated lenders party, is the largest bank in China and the largest bank in the world by total assets.

The Holland & Knight team assisting ICBC was led by partner Alejandro Landa (Picture) and included partner Guillermo Uribe Lara and associate Jorge E. González Carlini. They were assisted by paralegal Luis D. González Rico.

Involved fees earner: Jorge Gonzalez Carlini – Holland & Knight; Alejandro Landa Thierry – Holland & Knight; Guillermo Uribe Lara – Holland & Knight;

Law Firms: Holland & Knight;

Clients: Pemex – Petróleos Mexicanos;