Mexico in $3 Billion Formosa Bond Offering

January 4, 2021

Cleary Gottlieb represented the United Mexican States (Mexico) in a registered offering of $3 billion 3.75% global bonds due 2071.

The offering launch on January 3, 2021, and priced on January 4, 2021.

The bonds are listed on the Taipei Exchange, and the transaction marked Mexico’s debut in the Taiwanese bond market. With this issuance, Mexico secured its lowest coupon ever for a bond with a tenor longer than 30 years.

Deutsche Bank AG, Taipei Branch; Goldman Sachs (Asia) L.L.C., Taipei Branch; HSBC Bank (Taiwan) Limited; and Morgan Stanley Taiwan Limited acted as underwriters for the bond offering.

Cleary has previously represented Mexico, as issuer, in numerous securities transactions for more than 30 years.