Mexico in €2 Billion SDG Bond Offering

Cleary Gottlieb represented the United Mexican States (Mexico) in a registered offering of €2 billion principal amount of its 4.4899% global bonds due 2032, tied to the United Nations’ sustainable development goals (SDGs).

The offering launched and priced on January 18, 2024, and is expected to close on January 25, 2024. This transaction represents Mexico’s fifth series of SDG-linked bonds in the international capital markets. Mexico intends to allocate an amount equal to the proceeds from the sale of the bonds to budgetary programs that qualify as eligible expenditures under Mexico’s SDG sovereign bond framework. The framework aims to integrate achievement of the SDGs into Mexico’s national planning and budgetary and fiscal policies.

Banco Bilbao Vizcaya Argentaria S.A., Citigroup Global Markets Limited, Deutsche Bank AG London Branch, HSBC Continental Europe, and Natixis Securities Americas LLC acted as underwriters for offering.

Cleary has previously represented Mexico, as issuer, in numerous securities transactions for more than 30 years.