Petróleos Mexicanos in €2.25 Billion Offering under MTN Program

Cleary Gottlieb represented long-time client Petróleos Mexicanos, the Mexican state oil company, in its Regulation S debt offering of €2.25 billion aggregate principal amount of securities, which closed on April 21. The offering represented Pemex’s largest ever euro-denominated debt offering. The securities were issued in two tranches under Pemex’s medium-term notes program.

Barclays, BNP Paribas, Deutsche Bank and Santander acted as joint lead managers. The securities were listed on the Luxembourg Stock Exchange and were admitted to trade on the Euro MTF market of the exchange.