Mexico in $1.5 Billion Notes Reopening

January 10, 2013

Cleary Gottlieb represented the United Mexican States in the $1.5 billion reopening of its 4.750% notes due 2044. Barclays Capital and J.P. Morgan Securities acted as joint lead managers. The deal brings the amount outstanding of Mexico’s 2044 notes to $4,463,324,000. The notes were issued under Mexico’s newly increased and updated $110,000,000,000 Global Medium-Term Note Program registered with the SEC, and will be listed on the Luxembourg Stock Exchange. The deal launched on January 7 and closed on January 10.

The notes’ yield to maturity date and spread were both the lowest ever achieved by a 30-year Latin American issuance with a rating similar to Mexico’s.