PEMEX PMI Deal

GLAS appointed as Administrative Agent on the landmark syndicated refinancing for PEMEX and PMI

PEMEXGLAS Americas is delighted to share our participation as Administrative Agent on the syndicated refinancing of up to $8.2 billion for PEMEX and PMI.

PEMEX

Petroleos Mexicanos (PEMEX) is the Mexican state-owned integrated oil and gas company. The company produces and distributes a wide range of petrochemical products. It operates across the value chain of the oil and gas industry, from exploration and production to processing, logistics, and marketing. The company also exports crude oil, natural gas, petroleum, and petrochemical products to international markets.

PMI

P.M.I. Comercio Internacional, S.A. de C.V. (PMI) is responsible for doing business in international crude oil markets with operations in over 20 countries. Among its activities, PMI maintains alliances with other industry participants. PMI has extensive experience, synergies, and long-term business relationships with major oil companies around the world.

Successful syndicated refinancing for PEMEX and PMI

This transaction consisted of three facilities, one term loan for a value of $2.2 billion for PEMEX, and two revolving credit facilities totaling the aggregate value of $6 billion – with one for both PEMEX and PMI.

A syndicate of over 25 banks spread throughout the Americas was involved in the syndicated facilities, and GLAS are proud to partner as the Administrative Agent.

GLAS team

The GLAS deal team comprised of Luke Russell, Arbri Shameti, Tiffany Teves, Jeffrey Schoenfeld and Yulia Davydovitch.

Links

PEMEX website: PEMEX. Official site / Sitio oficial

PMI website: P.M.I. Comercio Internacional, S.A. de C.V.

Cleary Gottlieb: Pemex and PMI in $8.3 Billion Refinancing | Cleary Gottlieb

The Latin American Lawyer: Pemex and PMI in $8.3bn refinancing- The Latin American Lawyer

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of 360bn of assets under administration on a daily basis. For more information, please contact media@glas.agency.