Cleary Gottlieb represented long-time client Petróleos Mexicanos (Pemex), the Mexican state oil company, in connection with its entry into a $5.5 billion revolving credit facility and a $2.5 billion term loan facility.
The facilities were signed on June 28, 2019. The financing under each facility will be provided by a syndicate of banks led by Mizuho Bank Ltd. as the administrative agent. The proceeds of the loans will be used for corporate purposes and the financing of certain pre-export transactions in relation to oil and natural gas.