Mexico in $8.5 Billion Offering

Cleary Gottlieb represented the United Mexican States (Mexico) in a multitranche registered offering totaling $8.5 billion comprised of $2 billion principal amount of 6% global bonds due 2030, $4 billion principal amount of 6.875% global bonds due 2037, and $2.5 billion principal amount of 7.375% global bonds due 2055.

The offering launched and priced on January 6, 2025, and is expected to close on January 13, 2025. Mexico intends to use the net proceeds from the sale of the bonds for its general financing purposes.

BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., and SMBC Nikko Securities America Inc. 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.