Cleary Gottlieb represented long-time client Petróleos Mexicanos (PEMEX), the Mexican state oil company, in its Rule 144A/Regulation S offering of $1.5 billion aggregate principal amount of 6.875% notes due 2025.
The notes are guaranteed by Pemex Exploración y Producción, Pemex Transformación Industrial, and Pemex Logística, and their respective successors and assignees.
The transaction priced on October 8, 2020, and closed on October 16, 2020. The notes were issued under PEMEX’s medium-term notes program.
BofA Securities, Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, and SMBC Nikko Securities America, Inc. acted as joint bookrunners. The notes will be listed on the Luxembourg Stock Exchange and traded on the Euro MTF market of the exchange.