Petróleos Mexicanos’s $5.5 billion Rule 144A/Reg S Notes Offering


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

The offering is scheduled to close on December 13, 2016.

The securities are being issued in three tranches under Pemex’s medium-term notes program. The transaction is reported to be the first cross-border offering in U.S. dollars by a Mexican issuer since the U.S. presidential election of Donald Trump.

Bank of America Merrill Lynch, Citi, J.P. Morgan, Mizuho and Morgan Stanley acted as joint lead managers. The securities will be listed on the Luxembourg Stock Exchange and admitted to trade on the Euro MTF market of the exchange.

Cleary Gottlieb represented Petróleos Mexicanos with Jorge Juantorena (Picture), Erika Nijenhuis, Grant Binder, Alejandro Canelas Fernández, Kevin Hess, David Stuckey, Martin Pavon, Jessica Batlle and Julian Cardona.

Shearman & Sterling LLP has advised BofA Merrill Lynch, Citi, J.P. Morgan, Mizuho and Morgan Stanley with Stuart Fleischmann, Grissel Mercado, Erica Kassman and Maria Paula Souza.

Ritch, Mueller, Heather y Nicolau has advised BofA Merrill Lynch, Citi, J.P. Morgan, Mizuho and Morgan Stanley with Luis A. Nicolau, Carlos Obregón and José Berrueta.

Involved fees earner: Luis Nicolau Gutiérrez – Ritch, Mueller, Heather y Nicolau, SC; Carlos Obregón Rojo – Ritch, Mueller, Heather y Nicolau, SC; José Berrueta Ochoa – Ritch, Mueller, Heather y Nicolau, SC; Stuart Fleischmann – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Erica Kassman – Shearman & Sterling; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Grant M. Binder – Cleary Gottlieb Steen & Hamilton; Alejandro Canelas Fernandez – Cleary Gottlieb Steen & Hamilton; Kevin Hess – Cleary Gottlieb Steen & Hamilton; Erika Nijenhuis – Cleary Gottlieb Steen & Hamilton; David Stuckey – Cleary Gottlieb Steen & Hamilton;

Law Firms: Ritch, Mueller, Heather y Nicolau, SC; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Bank of America Merrill Lynch; Citibank; JP Morgan; Mizuho; Morgan Stanley; Pemex – Petróleos Mexicanos;

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Author: Ambrogio Visconti