$5.5 Billion Offering by PetrĂ³leos Mexicanos

December 6, 2016

Cleary Gottlieb represented long-time client Petróleos Mexicanos (Pemex), the Mexican state oil company, in its $5.5 billion Rule 144A/Reg S offering of debt securities.

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.