Shearman & Sterling represented Banco Bilbao Vizcaya Argentaria, S.A., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc. as placement facilitation agents in connection with an offering by Petróleos Mexicanos of Ps. 2,616,050,000 7.19% Certificados Bursátiles due 2024 (“Cebures”) in the form of Global Depositary Notes, issued by Citibank, N.A. as depositary. Morgan Stanley & Co. LLC acted as sole structuring agent for the offering.
The net proceeds from the issuance of the Cebures are being used to finance Petróleos Mexicanos’ investment program or to redeem, repurchase or refinance Petróleos Mexicanos’ indebtedness.