Cleary Gottlieb advises Mexico on $6.3bn bond deal

Cleary Gottlieb has represented the United Mexican States in a registered bond offering totaling U.S.$6.3 billion. The transaction comprised U.S.$4.8 billion in 6.25% global bonds due 2037 and U.S.$1.5 billion in 6.75% global bonds due 2056. 

Mexico intends to apply the net proceeds toward the redemption of several existing debt instruments, including its U.S. dollar-denominated 4.15% notes due 2027, 3.75% notes due 2028, and 5.4% notes due 2028, as well as its Euro-denominated 3.625% notes due 2029, with the remainder allocated to general financing purposes.

Barclays Capital, BNP Paribas Securities Corp., Deutsche Bank Securities, HSBC Securities (USA), and MUFG Securities Americas acted as underwriters for the offering.

The Cleary Gottlieb team advising Mexico was led by partners Jorge Juantorena (pictured left)and Manuel Silva (pictured right), supported by associates Martin Sasson, Sonia Montejano, and Cosmo Albrecht, and law clerk Micaela Mingramm. New York tax matters were handled by partner Matthew Brigham, associate Mingyu Tang, and law clerk Jiyoung Kim. All lawyers are based in New York.

Cleary Gottlieb has represented Mexico as issuer in numerous securities transactions over more than 30 years.