Mexico in $1 Billion Notes Reopening

September 28, 2007

Cleary Gottlieb represented the United Mexican States in the $500 million reopening of its 5.625% notes due 2017 and $500 million reopening of its 6.75% notes due 2034. Merrill Lynch & Co. and UBS Investment Bank acted as joint lead managers. The deal was the first bond issuance by a Latin American sovereign in the wake of this summer’s credit turmoil. It launched on September 24 and closed on September 28.

The deal brings the amount outstanding of Mexico’s 2017 and 2034 notes to $3.5 billion and $4.3 billion, respectively. The notes were issued under Mexico’s $50 billion medium-term note program registered with the SEC, and are listed on the Luxembourg Stock Exchange.