Petróleos Mexicanos in €1.3 Billion Debt Offering

November 27, 2013

Cleary Gottlieb represented long-time client Petróleos Mexicanos (Pemex), the Mexican state oil company, in its Reg S/Rule 144A offering of €1.3 billion 3.125% notes due 2020 that closed on November 27. BBVA, Credit Suisse and HSBC acted as joint lead managers. The notes are listed on the Luxembourg Stock Exchange and have been admitted to trading on the Euro MTF market of the exchange.

This is Pemex’s first offering in euros since 2009. The notes’ yield was the lowest ever achieved by Pemex for an issuance in euros.