Cleary Gottlieb Wraps Up Blockbuster September for Mexican Bond Offerings

Cleary Gottlieb’s Latin America practice capped off a noteworthy September 2016, acting as counsel on several major Mexican bond offerings totaling nearly $10 billion.

In the month of September, Cleary was counsel in the following bond offerings by Mexican issuers:

• $5.6 billion of bonds by Petróleos Mexicanos (PEMEX), the Mexican state oil company, comprised of a $4 billion new money offering and a concurrent liability management transaction resulting in $1.6 billion in additional debt securities.
• The Mexico City Airport $2 billion green bond, the largest-ever green bond in Latin America.
• Liverpool’s $750 million bond, in which Cleary represented Citi, Credit Suisse and JP Morgan as initial purchasers.
• Banorte’s $500 million bond, in which Cleary represented Bank of America Merrill Lynch, JP Morgan and Morgan Stanley as initial purchasers.
• Unifin Financiera’s high-yield global bond offering of $400 million senior notes.

The offerings showcased the breadth of the practice, the range of its client base and its deep bench of talent.