Mexico in €1.25 Billion Offering

July 12, 2021

Cleary Gottlieb represented the United Mexican States (Mexico) in a registered offering of €1.25 billion 2.25% global bonds due 2036, tied to the United Nations’ sustainable development goals (SDGs).

The offering launched and priced on July 6, 2021, and closed on July 12, 2021.

The transaction represents Mexico’s second series of SDG-linked bonds. Mexico became the first sovereign to issue an SDG-linked bond in September 2020. Mexico intends to expend an amount equal to the proceeds from the sale of the notes to fund budgetary programs that qualify as eligible expenditures under Mexico’s SDG sovereign bond framework. The framework aims to integrate achievement of the SDGs into Mexico’s national planning and budgetary and fiscal policies.

BNP Paribas, Merrill Lynch International, and Natixis Securities Americas LLC acted as underwriters for the offering.