Cleary advises Pemex on $2bn note offering
Cleary Gottlieb has advised Petróleos Mexicanos (Pemex), Mexico’s state-owned oil company, on the issuance of $2 billion of notes due 2033.
The offering was priced on January 31, 2023 and is expected to settle on February 7, 2023. The securities are issued in a tranche under Pemex’s medium-term note program.
The notes are guaranteed by Pemex Exploración y Producción, Pemex Transformación Industrial and Pemex Logística, and their respective successors and assigns. The notes are expected to be listed on the Luxembourg Stock Exchange and traded on the exchange’s Euro MTF market.
Barclays Capital, J.P. Morgan Securities and Mizuho Securities acted as active bookrunners for the offering, while BBVA Securities, Santander Investment Securities, Scotia Capital (USA) and SMBC Nikko Securities America acted as passive bookrunners.
Cleary’s corporate team consisted of partner Jorge Juantorena (pictured), associates Ignacio Lagos and Alejandro Martinez-Inzunza, and law clerk Chetna Beriwala. Attorney Matthew Brigham and associates Jesse Hong and Adriana De Bartolo advised on U.S. tax matters. All attorneys are based in New York.
