Petróleos Mexicanos in $2.5 Billion Offering under MTN Program

November 14, 2014

Cleary Gottlieb represented long-time client Petróleos Mexicanos, the Mexican state oil company, in its Rule 144A/Reg S debt offering of $2.5 billion aggregate principal amount of securities, which closed on October 15. The securities are being issued in two tranches under Pemex’s medium-term notes program.

Merrill Lynch, Credit Agricole and J.P. Morgan acted as joint lead managers. The securities were listed on the Luxembourg Stock Exchange and were admitted to trade on the Euro MTF market of the exchange. Pemex used portion of the proceeds from this offering to redeem its 5.750% Notes and 4.875% Notes, each due 2015, on November 14, 2014.