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Petróleos Mexicanos Announces The Settlement Of Its Offering Of Global Notes And The Final Results Of Its Private Cash Tender Offers

MEXICO CITY, Sept. 23, 2019 /PRNewswire/ -- Petróleos Mexicanos ("PEMEX") today announced the settlement of its previously announced offering of U.S. $1,250,000,000 aggregate principal amount of its 6.490% Notes due 2027, U.S. $3,250,000,000 aggregate principal amount of its 6.840% Notes due 2030 and U.S. $3,000,000,000 aggregate principal amount of its 7.690% Bonds due 2050 (collectively, the "New Securities"), the proceeds of which, in each case, will be used to redeem, repurchase or refinance PEMEX's indebtedness (the "New Money Offering").

PEMEX today also announced the final results of its previously announced offers to purchase (the "Tender Offers") any and all of its outstanding securities set forth in the table below (the "Securities").

The Tender Offers were made pursuant to the terms and subject to the conditions set forth in the offer to purchase, dated September 12, 2019 (the "Offer to Purchase") and the related notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Offer Documents").

The Tender Offers expired at 5:00 p.m. (New York City time) on September 18, 2019 and settled today, September 23, 2019.

The following table sets forth the aggregate principal amount of Securities validly tendered in the Tender Offers (including pursuant to the guaranteed delivery procedures described in the Offer to Purchase), all of which PEMEX accepted for purchase:

Series of
Securities

Acceptance
Priority
Level

CUSIP

ISIN

Principal Amount
Outstanding

Principal Amount
Validly Tendered
and Accepted for
Purchase

6.000% Notes
due 2020

1

71654QAW2

71656LAC5

71656MAC3

US71654QAW24

US71656LAC54

US71656MAC38

U.S.$816,983,000

U.S.$491,803,000

3.500% Notes
due 2020

2

71654QBU5

71656LBC4

71656MBC2

US71654QBU58

US71656LBC46

US71656MBC29

U.S.$682,697,000

U.S.$242,511,000

5.500% Notes
due 2021

3

71654QAX0

71656LAD3

71656MAD1

US71654QAX07

US71656LAD38

US71656MAD11

U.S.$3,000,000,000

U.S.$1,897,615,000

6.375% Notes
due 2021

4

71654QCA8

71656LBJ9

71656MBJ7

US71654QCA85

US71656LBJ98

US71656MBJ71

U.S.$1,250,000,000

U.S.$883,977,000

8.625% Bonds
due 2022

5

706451AG6

70645JAH5

70645KAH2

US706451AG65

US70645JAH59

US70645KAH23

U.S.$160,245,000

U.S.$17,316,000

Floating Rate
 Notes due 2022

6

71654QCF7

71656LBN0

71656MBN8

US71654QCF72

US71656LBN01

US71656MBN83

U.S.$1,000,000,000

U.S.$96,970,000

5.375% Notes
due 2022

7

71654QCE0

71656LBP5

71656MBP3

US71654QCE08

US71656LBP58

US71656MBP32

U.S.$1,500,000,000

U.S.$235,177,000

4.875% Notes
due 2022

8

71654QBB7

71656LAL5

71656MAL3

US71654QBB77

US71656LAL53

US71656MAL37

U.S.$2,100,000,000

U.S.$361,601,000

3.500% Notes
due 2023

9

71654QBG6

71656LAP6

71656MAP4

US71654QBG64

US71656LAP67

US71656MAP41

U.S.$2,100,000,000

U.S.$344,853,000

4.625% Notes
due 2023

10

71654QCD2

71656LBL4

71656MBL2

US71654QCD25

US71656LBL45

US71656MBL28

U.S.$2,069,302,000

U.S.$433,946,000

PEMEX paid an aggregate amount of U.S.$5,172,301,934.00 as tender consideration for the Securities accepted for purchase in the Tender Offers, including those validly tendered through guaranteed delivery procedures.  In addition to the tender consideration, the total amount of accrued and unpaid interest paid by PEMEX in respect of all Securities accepted for purchase was U.S.$34,066,481.31.

Global Bondholder Services Corporation acted as the Information Agent and the Tender Agent for the Tender Offers.  Questions or requests for assistance related to the Tender Offers or for additional copies of the Offer Documents may be directed to Global Bondholder Services Corporation at (866) 470-4500 (toll free) or (212) 430-3774 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Tender Offers.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, BofA Securities, Inc., Credit Agricole Securities (USA) Inc. and Mizuho Securities USA LLC acted as dealer managers in connection with the Tender Offers (the "Dealer Managers"). 

This announcement is for informational purposes only. This announcement is not an offer to purchase or sell or a solicitation of an offer to sell or purchase any securities.

The New Securities were sold to qualified institutional buyers in the United States in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States in accordance with Regulation S under the Securities Act. The New Securities have not been registered under the Securities Act or any state or other jurisdiction's securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

The Tender Offers were made solely pursuant to the Offer Documents. The Tender Offers were not made to holders of Securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws required the Tender Offers to be made by a licensed broker or dealer, the Tender Offers were deemed made on behalf of PEMEX by the Dealer Managers for the Tender Offers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

The communication of this press release and any other documents or materials relating to the New Money Offering and the Tender Offers (collectively, the "Offers") is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being directed at and made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order, or to other persons to whom it may lawfully be communicated in accordance with the Order (all such persons together being referred to as "relevant persons"). The Offers were only available to, and the Offers were engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on any document relating to the Offers or any of their contents.

Forward-Looking Statements

This press release contains forward-looking statements.  Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties.  No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions.  PEMEX undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

Cision

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