PEMEX Launches US$5 Billion Debt Offering

By Shriya Bhargava
January 21, 2020
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Pemex Building

Mexico’s state-owned oil company Petroleos Mexicanos SA de CV (PEMEX) has commenced an offering of US$2.5 billion aggregate principal amount of 5.95% notes due 2031, and US$2.5 billion of 6.95% bonds due 2060. The Company will use the proceeds of the offering to repurchase notes validly tendered and accepted for purchase under its tender offers for US$325 million of 6.0% notes due 2020 and US$440 million of 3.5% notes due 2020, and the remainder to repay other outstanding indebtedness. Barclays Capital, BBVA Securities, BNP Paribas Securities, JP Morgan Securities, Morgan Stanley & Co., MUFG Securities Americas, Scotia Capital (USA), and SMBC Nikko Securities America are acting as dealer managers for the offering, which is expected to be settled on January 31st.

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