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News Jul 18, 2017

Shearman & Sterling Advises on Petróleos Mexicanos’ Sale of $5 Billion in Debt Securities in Connection With Concurrent Tender Offers

Shearman & Sterling represented BBVA Securities, HSВС Securities (USA), J.P. Morgan Securities and Santander Investment Securities as managers in connection with the offering of $5 billion of securities issued in two separate tranches, a $2.5 billion issuance of 6.500% notes due 2027 and a $2.5 billion issuance of 6.750% bonds due 2047.  The offering was launched concurrently with the commencement of Petróleos Mexicanos’ offers to purchase for cash certain series of its existing debt securities. 

The Shearman & Sterling team included partner Stuart Fleischmann (New York-Capital Markets); counsel Grissel Mercado (New York-Capital Markets); and associates Yaw Asare (New York-Capital Markets), Trevor Okomba (New York-Corporate) and visiting attorney Maria Constanza Martella (New York-Capital Markets). Other Shearman & Sterling lawyers involved in the transaction were counsel Jeffrey Tate (Washington, DC-Tax) and associate Michael Daly (Washington, DC-Tax). 

 

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