The largest bond sale by a Latin American company has been completed by Petroleos Mexicanos, Mexico’s state-owned oil company. ?Pemex? raised $1.75 billion through the issue of Perpetual Bonds by a Delaware Statutory Trust as issuer with a guarantee provided by Pemex.
The obligations of Pemex were guaranteed on a joint basis by its three operating subsidiaries depending upon a master guarantee agreement.
Linklaters, the international legal advisors, acted as joint lead managers on the deal. Its team was led by Conrado Tenaglia (Madrid) and Nigel Pridmore (London), with Piers Summerfield and Samantha Manning assisting. Hilary
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