Shearman & Sterling represented Barclays Capital Inc., Citigroup Global Markets Inc. and Credit Suisse Securities as joint bookrunning managers in connection with a 144A/Regulation S offering of $1,000,000,000 aggregate principal amount of 6.000% Notes due 2025 of Petróleos Mexicanos ("Pemex") guaranteed by its wholly-owned subsidiaries Pemex-Exploración y Produción, Pemex-Refinación and Pemex-Gas y Petroquímica Básica.

This offering is a takedown of a Medium-Term Notes program by Pemex, and the proceeds will be used to finance Pemex’s investment program and working capital needs or to redeem, repurchase or refinance Pemex’s indebtedness.

The following Shearman & Sterling attorneys advised the managers on this deal: partners Stuart Fleischmann (New York-Capital Markets) and Don J Lonczak (Washington, DC-Tax) and associates Alejandro Gordano, Grissel Mercado, Matias Langevin (all New York-Capital Markets) and Matthew Tsiaras (Washington, DC-Tax).