Mexico in $7.5 Billion Bond Offering

Cleary Gottlieb represented the United Mexican States (Mexico) in a multitranche registered offering totaling $7.5 billion comprised of $1 billion principal amount of 5% global bonds due 2029, $4 billion principal amount of 6% global bonds due 2036, and $2.5 billion principal amount of 6.4% global bonds due 2054.

The offering launched and priced on January 2, 2024, and is expected to close on January 8, 2024. Mexico intends to use the net proceeds from the sale of the bonds for its general financing purposes.

Barclays Capital Inc., BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co LLC, and Santander US Capital Markets LLC acted as underwriters for the bond offering.

The offering is the largest issuance by Mexico to date.

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