International bonds: Pemex, 6.375% 23jan2045, USD
US71654QBR20

• Placement method
  Open subscription
• Placement type
  Public
• Order book
  *** (***) - *** (***)
• Coupon (Yield) Guidance
  ***% - ***% (*** - ***%)
• Issuer rating on issue date (M/S&P/F)
  *** / *** / ***
• Placement
  *** - ***
• Initial issue price (yield)
  (***%)
• Bids
  *** USD
• Number of bids
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• Geographic breakdown
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• Investor breakdown
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• The purpose of placing
  We did not receive any cash proceeds from the issuance of the securities. We did not receive any cash proceeds from the issuance of the securities under the Exchange Offers. In consideration for issuing the securities as described in this Listing Memorandum, we received in exchange an equal principal amount of old securities, which were cancelled. Accordingly, the Exchange Offers did not result in any increase in our indebtedness or the guarantors’ indebtedness. The 20 net proceeds we received from issuing the old securities were and are being used to finance our investment program.
• Listing
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• Bookrunner
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• Depository
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• Issuer Legal Adviser (International law)
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• Convertion date
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• Initial premium
  ***%
• Convertible until
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• Lock-up
  *** days
• Conversion terms
  ***
• Exchanged from
  Pemex, 6.375% 23jan2045, USD
• Exchanged to
  Pemex, 7.69% 23jan2050, USD

• Change of Control

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• Collective Action Clause

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• Covenant Suspension/Fall-Away

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• Cross Default

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• Designation of Restricted and Unrestricted Subsidiaries

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• Events of Default

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• Financial Covenants

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• Limitation on Business Activities

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• Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries

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• Limitation on Indebtedness

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• Limitation on Investments

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• Limitation on Liens

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• Limitation on Restricted Payments

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• Limitation on Sale of Assets

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• Limitation on Sale/Leaseback

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• Limitation on Subsidiary Debt

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• Limitation on layering (anti-layering)

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• Limitations on transactions with affiliates

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• Merger Restrictions

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• Others

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• Rating Trigger

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28/10/2020	New bond issue: Pemex issued international bonds (US71654QDF63) with a 6.95% coupon for USD 3,796.8m maturing in 2060
28/10/2020	New bond issue: Pemex issued international bonds (US71654QDD16) with a 7.69% coupon for USD 8,047.8m maturing in 2050
28/10/2020	New bond issue: Pemex issued international bonds (US71654QDE98) with a 5.95% coupon for USD 3,777.4m maturing in 2031
28/10/2020	New bond issue: Pemex issued international bonds (US71654QDB59) with a 6.49% coupon for USD 2,341.4m maturing in 2027
12/10/2020	New bond issue: Pemex issued international bonds (USP7S08VBZ31) with a 6.875% coupon for USD 1,500.0m maturing in 2025
21/04/2020	Moody's Investors Service upgrades LT- local currency credit rating of Pemex to "Ba2" from "Withdrawn"
20/04/2020	Moody's Investors Service upgrades LT- foreign currency credit rating of Pemex to "Ba2" from "Withdrawn"
20/04/2020	Moody's Investors Service withdrew LT- local currency credit rating for Pemex
20/04/2020	Moody's Investors Service withdrew LT- foreign currency credit rating for Pemex
20/04/2020	Fitch Ratings downgrades LT Int. Scale (foreign curr.) credit rating of Pemex to "BB-"; outlook stable

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