MEXICO CITY, July 18, 2017 /PRNewswire/ -- Petróleos Mexicanos ("Pemex") today announced the final results for its previously announced cash tender offers ()Offers") to purchase any and all of its outstanding notes set forth in the table below ()Existing Securities"), made pursuant to the offer to purchase ()Offer to Purchase") and the related letter of transmittal and notice of guaranteed delivery sent to holders of the Existing Securities, each dated July 11, 2017 ()Offer Documents").
Tender Offers' Results
As of 5:00 p.m., New York City time, on July 18, 2017 (the "Expiration Date"), the principal amounts of Existing Securities of each series outstanding and validly tendered are as set forth in the table below.
|
Series of Securities |
CUSIPs |
Aggregate Principal Amount Outstanding Prior to Offers |
Aggregate Principal Amount Validly Tendered (1) |
|
5.750% Notes due March 1, 2018 |
706451BS9 - 70645JBD3 - 70645KBD0 |
U.S. $1,758,330,000 |
U.S. $919,417,000 |
|
3.500% Notes due July 18, 2018 |
71654QBJ0 - 71656LAS0 - 71656MAS8 |
U.S. $1,000,000,000 |
U.S. $644,024,000 |
|
3.125% Notes due January 23, 2019 |
71654QBQ4 - 71656LAW1 - 71656MAW9 |
U.S. $500,000,000 |
U.S. $171,832,000 |
|
(1) |
Not including aggregate principal amounts of Existing Securities tendered pursuant to the guaranteed delivery procedures described in the Offer Documents, for which delivery of Existing Securities must be made by 5:00 p.m., New York City time, on July 20, 2017. |
Additionally, $1,660,000 aggregate principal amount of its outstanding 5.750% Notes due March 1, 2018, $6,401,000 aggregate principal amount of its outstanding 3.500% Notes due July 18, 2018 and $606,000 aggregate principal amount of its outstanding 3.125% Notes due January 23, 2019 were tendered pursuant to the guaranteed delivery procedures described in the Offer Documents.
Pemex has accepted for purchase all Existing Securities validly tendered at or prior to the Expiration Date. Holders whose Existing Securities have been accepted for purchase will also receive interest accrued but unpaid on their Existing Securities accepted for purchase to, but excluding, the expected Settlement Date (as defined below). Under no circumstances will any interest be payable because of any delay in the transmission of funds to holders by The Depository Trust Company. Pemex will not accept any further tenders.
Satisfaction of Financing Condition
On July 18, 2017, Pemex issued (i) U.S. $2,500,000,000 reopening aggregate principal amount of its 6.500% Notes due 2027 and (ii) U.S. $2,500,000,000 reopening aggregate principal amount of its 6.750% Bonds due 2047 in a concurrent offering. As a result, pursuant to the terms and conditions described in the Offer to Purchase, the Financing Condition (as defined therein) has been satisfied.
Settlement
Payment for the Existing Securities validly tendered is expected to be made, subject to the terms and conditions of the Offer to Purchase, on July 21, 2017 (the "Settlement Date"). Payment for the Existing Securities validly tendered pursuant to the guaranteed delivery procedures described in the Offer Documents is also expected to be made, subject to the terms and conditions of the Offer to Purchase, on July 21, 2017.
Further Information
D. F. King & Co., Inc., has been appointed as the information agent for the Offers. Banks and brokers call: +1‘212‘269‘5550. All others call: 866-342-4881 (U.S. toll-free) or +1-212-269-5550 (international). Email: pemex@dfking.com. Copies of the Offer to Purchase and the related letter of transmittal and notice of guaranteed delivery are available at www.dfking.com/pemex.
Pemex has retained BBVA Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Santander Investment Securities Inc. to act as Dealer Managers in connection with the Offers. Questions regarding the Offers may be directed to BBVA Securities Inc. at + 1 212-728-2446 or liabilitymanagement@bbva.com, HSBC Securities (USA) Inc. at 888‘HSBC‘4LM (U.S. toll-free), +1‘212‘525‘5552 (international) or liability.management@hsbcib.com, J.P. Morgan Securities LLC at (866) 846-2874 (U.S. toll-free) or (212) 834-7279 (U.S. collect) and Santander Investment Securities Inc. at (855) 404-3636 (U.S. toll-free), (212) 940-1442 (U.S. collect) or LiabilityManagement@santander.us.
This press release is not an offer to sell or a solicitation of an offer to buy any security. The Offers are being made solely through the Offer to Purchase and the related letter of transmittal and notice of guaranteed delivery, and only to such persons and in such jurisdictions as are permitted under applicable law.
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SOURCE Petroleos Mexicanos
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