The United Mexican States closed an $8.5 billion offering of global bonds, marking the largest SEC-registered issuance by the country in history.
The global offering was made in three tranches, with $2 billion of its 6% global notes due 2030, $4 billion of its 6.875% global notes due 2037 and $2.5 billion of its 7.375% global notes due 2055.
The notes were issued pursuant to a basic prospectus, terms agreement and underwriting terms, on which S&C advised, and are listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange.
S&C, which acts as regular underwriters’ counsel in offerings by Mexico, including last year’s then-record $7.5 billion global bond offering, represented BofA Securities, Goldman Sachs, J.P. Morgan Securities, Scotia Capital and SMBC Nikko Securities America as joint lead underwriters.
The S&C team for the transaction included Chris Mann, Alan Fishman and Andrea Gonzalez Morales. Kirsten Rodger and Irene Bedmar-Gómez advised on UK/EEA matters. Jeff Hochberg advised on U.S. tax matters.