PEMEX Reports Early Tender Results for Outstanding Securities Purchase Offers
PEMEX Announces Early Tender Results for Securities Purchase Offers
On September 16, 2025, Petróleos Mexicanos, commonly known as PEMEX, released the early results of its recently announced initiatives to buy back outstanding securities. The total maximum cash available for this purchase program amounts to $9.9 billion. This decision has generated considerable interest from investors, which is evident in the early tender results.
The corporation's offers to purchase these securities reflect its ongoing commitment to strengthening its financial position and managing its obligations effectively. Below is a summary of the details from the early tender results:
Summary of Early Tender Results (as of September 15, 2025)
| Securities | Principal Amount Outstanding | Acceptance Priority Level | Principal Amount Tendered |
|---|---|---|---|
| ------- | ----- | ------ | -------- |
| 4.500% Notes due 2026 | $1,126,084,000 | 1 | $694,201,000 |
| 3.750% Notes due 2026 | €1,000,000,000 | 2 | €532,898,000 |
| 6.875% Notes due 2026 | $2,526,854,000 | 3 | $1,491,549,000 |
| 5.350% Notes due 2028 | $1,988,837,000 | 4 | $1,189,743,000 |
| 4.875% Notes due 2028 | €1,250,000,000 | 5 | €830,923,000 |
| 6.490% Notes due 2027 | $1,549,022,000 | 6 | $1,260,291,000 |
| 6.500% Notes due 2027 | $4,016,962,000 | 7 | $2,815,019,000 |
| 2.750% Notes due 2027 | €1,250,000,000 | 8 | €907,754,000 |
| 9.500% Notes due 2027 | $265,797,000 | 9 | $182,595,000 |
| 6.500% Notes due 2029 | $1,206,861,000 | 10 | $571,595,000 |
| 8.750% Notes due 2029 | $1,984,688,669 | 11 | $1,057,210,723 |
The early tender date indicated significant participation, leading to the oversubscription of the offers. The withdrawal rights for these offers concluded on September 15, 2025, and any securities that were validly tendered remain unwithdrawable, unless legally required otherwise.
PEMEX retains the right to accept securities that were tendered by this early date, assuming the conditions specified in the Offer to Purchase document are fulfilled. If accepted, PEMEX will later announce details regarding the aggregate principal amount of securities accepted, the valuation for each series, and the anticipated settlement date.
Due to the high interest levels indicated by early tendering, it is probable that securities tendered after this date will not be accepted for purchase. Therefore, investors who have engaged in this transaction are advised to follow the upcoming developments closely.
The Offers will officially close at 5:00 PM, New York City time, on September 30, 2025. To successfully complete the tender offer, PEMEX must satisfy or waive certain conditions, reaffirming the importance of thorough compliance with all offered terms.
PEMEX has collaborated with Global Bondholder Services Corporation as the Tender and Information Agent, allowing holders to seek assistance or further information regarding the offers. Inquiries and requests can be directed via their contact details provided at the completion of the official offer document.
As each series of securities operates independently within their own offer, PEMEX maintains the authority to modify or withdraw any offer without affecting the status of other offerings, reflecting their strategic flexibility in the market. It is crucial for security holders to remain vigilant of the deadlines imposed by brokers and intermediaries to maximize their participation in these offers.
This announcement serves as a reminder that all prospective transactions must comply with relevant securities laws, and it does not serve as an offer or solicitation to buy or sell securities. PEMEX encourages investors to consult their respective intermediaries for details regarding their active participation in the offers.
PEMEX remains committed to transparently communicating developments related to its offerings and upholding its fiduciary responsibilities to its stakeholders.
Topics Financial Services & Investing）
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