The United Mexican States completed a $6.3 billion SEC-registered global notes offering consisting of $4.8 billion of 6.250% Global Notes due 2037 and a $1.5 billion add-on offering of 6.75% Global Notes due 2056. This marks Mexico’s third SEC-registered debt offering of the year.
The notes are listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange. The proceeds of the notes will be used to retire certain outstanding indebtedness of Mexico, and for the general purposes of the Mexican government.
S&C represented Barclays Capital, BNP Paribas Securities, Deutsche Bank Securities, HSBC Securities (USA) and MUFG Securities Americas as joint bookrunners.
S&C acts as regular underwriters’ counsel in offerings by The United Mexican States, including this year’s $9 billion and €4.75 billion global notes offerings; last year’s €5 billion and $8 billion, $6.8 billion, €2.4 billion and $8.5 billion global bond offerings; and 2024’s $7.5 billion global bond offering.
The S&C team advising the underwriters consisted of Alan Fishman, Chris Mann and Andrea González Morales. Vanessa Blackmore, Anna McLaughlin, Emily Thomson and trainee solicitor Trinity Batt advised on UK/EAA matters. Jeff Hochberg and Julia Fleurantin advised on U.S. tax matters. Tracey Russell advised on FINRA and broker-dealer matters.