Mexico in $6 Billion Offering

April 28, 2020

Cleary Gottlieb represented the United Mexican States (Mexico) in a $6 billion offering of three new benchmark bonds with five-, 12-, and 31-year terms.

The offering launched and priced on April 22, 2020, and closed on April 27, 2020. Despite a volatile international market due to the coronavirus pandemic, the demand for the notes reached historically high levels, demonstrating international investors’ continued confidence in the country. The proceeds from the offering of $1 billion 3.9% notes due 2025, $2.5 billion 4.75% notes due 2032, and $2.5 billion 5% notes due 2051 will be applied to general purposes of the government, including the refinancing, repurchase, or retirement of its domestic and external indebtedness.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Santander Investment Securities Inc. acted as underwriters for the offering.