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Petróleos Mexicanos Announces Offering Of Global Notes And Private Exchange Offers And Tender Offers

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MEXICO CITY, Feb. 1, 2018 /PRNewswire/ — Petróleos Mexicanos (“PEMEX”) announces that it has commenced an offering (the “New Money Offer”) of U.S.-dollar denominated global notes in one or more series (the “New Money Notes”), subject to market and other conditions, and a series of liability management transactions targeting certain series of PEMEX outstanding notes short-term maturity notes due 2019 and 2020 and long-term maturity bonds due 2044 and 2046.

New Money Offering

The New Money Notes will be issued under PEMEX’s U.S.$92,000,000,000 Medium-Term Notes Program, Series C, will constitute unsecured obligations of PEMEX and will be jointly and severally guaranteed by Pemex Exploración y Producción, Pemex Transformación Industrial, Pemex Perforación y Servicios, Pemex Logística and Pemex Cogeneración y Servicios. 

PEMEX intends to use the net proceeds from the sale of the New Money Notes to purchase all or a portion of several series of outstanding notes maturing in 2019 and 2020, and the remainder, if any, to finance PEMEX’s investment program and working capital needs.

The New Money Notes are being 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 Money Notes 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.

This release is neither an offer to purchase nor a solicitation of an offer to sell or buy any securities of PEMEX in any transaction. Any offer to purchase the securities of PEMEX referenced above will be made solely on the terms and subject to the conditions set out in a separate offer to purchase directed to holders of such securities.  PEMEX will enter into a registration rights agreement with respect to the New Money Notes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the New Money Notes, nor shall there be any offer, solicitation or sale of the New Money Notes in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.

Exchange Offers

The first

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