Petróleos Mexicanos’ $4 Billion Notes Offering

Cleary Gottlieb Steen & Hamilton, Shearman & Sterling and Ritch, Mueller, Heather y Nicolau advised on the transaction

Petróleos Mexicanos (“PEMEX”) announces that it has commenced an offering (the “New Money Offer”) of U.S.-dollar denominated global notes in one or more series (the “New Money Notes”), subject to market and other conditions, and a series of liability management transactions targeting certain series of PEMEX outstanding notes short-term maturity notes due 2019 and 2020 and long-term maturity bonds due 2044 and 2046.

PEMEX intends to use the net proceeds from the sale of the New Money Notes to purchase all or a portion of several series of outstanding notes maturing in 2019 and 2020, and the remainder, if any, to finance PEMEX’s investment program and working capital needs.

BNP Paribas Securities Corp., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and SMBC Nikko Securities America, Inc. acted as Joint-Bookrunners on the offering.

Petróleos Mexicanos S.A. de C.V. engages in the exploration, exploitation, refining, transportation, storage, distribution, and sale of crude oil, natural gas, and derivatives of petroleum and natural gas in Mexico. The company, led by Carlos Alberto Treviño Medina, Juan Pablo Newman Aguilar, J. Javier Hinojosa Puebla, Rodrigo Becerra Mizuno and Jorge Eduardo Kim Villatoro, is based in Mexico City.

Cleary Gottlieb Steen & Hamilton advised Petróleos Mexicanos (Pemex) with Jorge Juantorena (Picture), Erika Nijenhuis, David López, Manuel Silva, Alejandro Canelas Fernández, Jessica Repond, David Stuckey, Gabriella Fortun and Amy Hinz.

Shearman & Sterling advised the Joint-Bookrunners with Stuart Fleischmann, Grissel Mercado, María Marulanda Larsen, Anusha Pamula and Erika Khalek.

In Mexico, Ritch, Mueller, Heather y Nicolau, advised the Banks with Luis A. Nicolau Gutiérrez and José Berrueta Ochoa.


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Author: Ambrogio Visconti