Petroleos Mexicanos Announces Successful Results of Consent Solicitations - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Petroleos Mexicanos Announces Successful Results of Consent Solicitations

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SOURCE Petroleos Mexicanos

MEXICO CITY, June 18, 2014 /PRNewswire/ -- Petroleos Mexicanos announced today the successful completion of its previously announced consent solicitations for debt securities with an aggregate principal amount outstanding of approximately U.S. $40.3 billion (the "Consent Solicitations").  Consents were obtained from holders of the requisite aggregate principal amount of each series of the outstanding debt securities for which consents were solicited pursuant to Petróleos Mexicanos' Consent Solicitation Statement dated as of June 3, 2014 (the "Pemex Consent Solicitation Statement") and Pemex Finance Ltd.'s ("Pemex Finance") Consent Solicitation Statement dated as of June 3, 2014 (the "Pemex Finance Consent Solicitation Statement").

Each of Petroleos Mexicanos and Pemex Finance solicited consents to amend (the "Proposed Amendment") each instrument governing the debt securities described above to align it with proposed changes in Mexican law resulting from reforms to the Mexican energy sector that are expected to be implemented in the near future.

The Consent Solicitations expired at 5:00 p.m. (New York City time) on June 18, 2014 (the "Expiration Time").  Because the requisite consents have been received for the debt securities described above, holders of these securities may not revoke their consents.  Any holder of these securities whose validly delivered consent was accepted prior to the Expiration Time will receive a consent fee equal to 0.15% of the principal amount of the series of securities held by such holder, which each of Petroleos Mexicanos and Pemex Finance expects to be paid on June 24, 2014.

Petroleos Mexicanos' separate consent solicitation in respect of its 6.375% Guaranteed Notes due 2016, which are governed by an English-law trust deed, will remain open until the meeting to be held in respect thereof on June 25, 2014, as described in Petroleos Mexicanos' Consent Solicitation Memorandum dated as of June 3, 2014 (the "Pemex Consent Solicitation Memorandum").  Voting instructions by proxy in respect of that consent solicitation must be delivered not later than 24 hours before the meeting.

Each of the Consent Solicitations is conditioned, among other things, on receipt by Petroleos Mexicanos or Pemex Finance, as the case may be, at or prior to the applicable Expiration Time, of the requisite majority in aggregate principal amount of each other series of debt securities for which Petróleos Mexicanos and Pemex Finance, respectively, have solicited consents the "Cross-Consents Condition").  Petróleos Mexicanos and Pemex Finance are each waiving the Cross-Consents Condition with respect to each of the Consent Solicitations.

Promptly following the Expiration Time, (i) Petroleos Mexicanos and the trustee or the fiscal agent, as the case may be, under the instruments governing each series of debt securities for which consents were solicited pursuant to the Pemex Consent Solicitation Statement will execute supplements to the instruments governing such securities and (ii) Pemex Finance and the other parties to the Transaction Documents (as defined in Pemex Finance's Consent Solicitation Statement) will execute amendments thereto, in each case in order to effect the Proposed Amendment with respect to each Consent Solicitation.

Each of Petroleos Mexicanos and Pemex Finance has engaged Morgan Stanley & Co. LLC to act as global coordinator and solicitation agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc. as solicitation agents for the consent solicitations.  D. F. King & Co., Inc. has been engaged to act as the Information and Tabulation Agent for the consent solicitations.  Credit Suisse AG has been engaged to act as the Swiss Paying Agent for the consent solicitations in respect of the debt securities denominated in Swiss francs.  Any questions or requests for assistance regarding the consent solicitations may be made to Morgan Stanley at 800-624-1808 (U.S. toll-free), +1-212-761-1057 (collect) or +44-20-7677-5040 (international), BofA Merrill Lynch at 888-292-0070 (U.S. toll-free), +1-646-855-8988 (collect) or +44-20-7995-3715 (international) or Deutsche Bank at 855-287-1922 (U.S. toll-free), +1-212-250-7527 (collect) or +44-20-7545-8011 (international).  Questions or requests for assistance or additional copies of the Pemex Consent Solicitation Statement, the Pemex Finance Consent Solicitation Statement, the Pemex Consent Solicitation Memorandum and any related documents may be directed to D. F. King & Co., Inc. at pemex@dfking.com or at 800-967-7635 (U.S. toll-free) or +44-20-7920-9700 (international).  Copies of the Pemex Consent Solicitation Statement, the Pemex Finance Consent Solicitation Statement, the Pemex Consent Solicitation Memorandum and any related documents are available at www.dfking.com/pemex.  Questions or requests regarding the consent solicitations relating to the debt securities denominated in Swiss francs may be directed to Credit Suisse AG at +41-44-333-28-86.

This press release is for informational purposes only and is not a solicitation of consents.  The consent solicitations are only being made pursuant to the Pemex Consent Solicitation Statement, the Pemex Consent Solicitation Memorandum and the Pemex Finance Consent Solicitation Statement.  The consent solicitations are subject to certain conditions and present certain risks for holders who consent, as set forth more fully in the Pemex Consent Solicitation Statement, the Pemex Consent Solicitation Memorandum and the Pemex Finance Consent Solicitation.

©2012 PR Newswire. All Rights Reserved.

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