The Rule 144A / Regulation S remarketing involved $1.5 billion of notes due 2029

Davis Polk advised the financial and structuring adviser and remarketing agent in connection with a restructuring of approximately $2 billion of debt owed to several suppliers by Petróleos Mexicanos (Pemex) and a Rule 144A / Regulation S remarketing of $1.5 billion aggregate principal amount of Pemex’s 8.750% notes due 2029, guaranteed by Pemex Exploración y Producción, Pemex Transformación Industrial and Pemex Logística.

Pemex, headquartered in Mexico City, is a state-owned Mexican company that operates in the oil and gas industry, including exploration, production, industrial transformation, logistics and marketing. 

The Davis Polk corporate team included partner Maurice Blanco, counsel Katia Brener and associate José Miguel Fernández. All members of the Davis Polk team are based in the New York office.

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