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
Acceptance
CUSIP
ISIN
Principal Amount
Principal Amount
Securities Priority Outstanding Validly Tendered
Level and Accepted for
Purchase
---
6.000% Notes 1
71654QAW2
US71654QAW24
U.S.$816,983,000
U.S.$491,803,000
due 2020
71656LAC5
US71656LAC54
71656MAC3
US71656MAC38
3.500% Notes 2
71654QBU5
US71654QBU58
U.S.$682,697,000
U.S.$242,511,000
due 2020
71656LBC4
US71656LBC46
71656MBC2
US71656MBC29
5.500% Notes 3
71654QAX0
US71654QAX07
U.S.$3,000,000,000
U.S.$1,897,615,000
due 2021
71656LAD3
US71656LAD38
71656MAD1
US71656MAD11
6.375% Notes 4
71654QCA8
US71654QCA85
U.S.$1,250,000,000
U.S.$883,977,000
due 2021
71656LBJ9
US71656LBJ98
71656MBJ7
US71656MBJ71
8.625% Bonds 5
706451AG6
US706451AG65
U.S.$160,245,000
U.S.$17,316,000
due 2022
70645JAH5
US70645JAH59
70645KAH2
US70645KAH23
Floating Rate 6
71654QCF7
US71654QCF72
U.S.$1,000,000,000
U.S.$96,970,000
Notes due 2022
71656LBN0
US71656LBN01
71656MBN8
US71656MBN83
5.375% Notes 7
71654QCE0
US71654QCE08
U.S.$1,500,000,000
U.S.$235,177,000
due 2022
71656LBP5
US71656LBP58
71656MBP3
US71656MBP32
4.875% Notes 8
71654QBB7
US71654QBB77
U.S.$2,100,000,000
U.S.$361,601,000
due 2022
71656LAL5
US71656LAL53
71656MAL3
US71656MAL37
3.500% Notes 9
71654QBG6
US71654QBG64
U.S.$2,100,000,000
U.S.$344,853,000
due 2023
71656LAP6
US71656LAP67
71656MAP4
US71656MAP41
4.625% Notes 10
71654QCD2
US71654QCD25
U.S.$2,069,302,000
U.S.$433,946,000
due 2023
71656LBL4
US71656LBL45
71656MBL2
US71656MBL28
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.
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SOURCE Petróleos Mexicanos (PEMEX)
