Mexico Issues Registered Bond Offering Worth Over $3 Billion

March 28, 2017

Cleary Gottlieb represented the United Mexican States in a dollar-denominated registered bond offering for an aggregate $3,150,415,000 of 10-year 4.150 percent global bonds due 2027.

The offering launched on March 16, 2017, and closed on March 28, 2017. Concurrent with the launch of the bond offering, Mexico also launched an offer to purchase for cash certain series of outstanding bonds, which launched and expired on March 16, 2017. Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC acted as underwriters for the bond offering and joint dealer managers for the tender offer.

Mexico intends to use the net proceeds of the bond offering for its general financing purposes, to fund the payment of the purchase price of those series of outstanding bonds whose tenders were accepted by Mexico pursuant to the tender offer and to pay the applicable redemption price of its dollar-denominated 5.950 percent global bonds due 2019.

Cleary has previously represented Mexico as issuer in numerous securities transactions.