UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2023
Commission File Number 0-99
PETRÓLEOS MEXICANOS
(Exact name of registrant as specified in its charter)
MEXICAN PETROLEUM
(Translation of registrant’s name into English)
UNITED MEXICAN STATES
(Jurisdiction of incorporation or organization)
Avenida Marina Nacional No. 329
Colonia Verónica Anzures
11300 Ciudad de México
México
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).
Yes ☐ No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).
Yes ☐ No ☒
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
Petróleos Mexicanos
Offer to Exchange Securities
which have been registered under the Securities Act of 1933, as amended,
and which are jointly and severally guaranteed by
Pemex Exploración y Producción, Pemex Transformación Industrial and Pemex Logística
(and their respective successors and assignees)
for any and all of its corresponding outstanding securities
CUSIP Nos. of Old Securities | ISIN Nos. of Old Securities | Old Securities of Petróleos Mexicanos | Corresponding New Securities of | |||
71654QDN9 (Rule 144A)
P78625ED1 (Reg. S) | US71654QDN97 (Rule 144A)
USP78625ED13 (Reg. S) | U.S. $2,000,000,000 of 10.000% Notes due 2033 | Up to U.S. $2,000,000,000 of 10.000% Notes due 2033 |
Petróleos Mexicanos (the “Issuer”), a productive state-owned company of the Federal Government of the United Mexican States, and Pemex Exploración y Producción, Pemex Transformación Industrial and Pemex Logística and their respective successors and assignees (collectively, the “Guarantors”) are offering, upon the terms and conditions set forth in the prospectus dated September 29, 2023 (the “Exchange Offer”), to exchange registered 10.000% Notes due 2033 (the “New Securities”) for any and all of the Issuer’s outstanding 10.000% Notes due 2033 (the “Old Securities”).
The Exchange Offer commenced on September 29, 2023 and will expire at 5:00 p.m., New York City time, on October 30, 2023 (the “Expiration Date”), unless extended. If the Exchange Offer is extended, we will publish a notice in Luxembourg, and we will notify the Luxembourg Stock Exchange of the new Expiration Date.
The terms of the New Securities to be issued are identical to the Old Securities, except for the transfer restrictions and registration rights relating to the Old Securities.
We will apply, through Banque Internationale à Luxembourg S.A. (the “Luxembourg Listing Agent”), to have the New Securities listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF market. All of the Old Securities are currently listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF market.
You should consider the risk factors set forth in the prospectus before participating in the Exchange Offer.
Deutsche Bank Trust Company Americas is the exchange agent for the Exchange Offer (in such capacity, the “Exchange Agent”). You should address questions and requests for additional copies of the prospectus to the Exchange Agent as follows:
Deutsche Bank Trust Company Americas
c/o DB Services Americas, Inc.
Attn: Reorg Department
5022 Gate Parkway, Suite 200
Jacksonville, Florida 32256
United States of America
Phone: (877) 843-9767
Email: DB.Reorg@db.com
You may also obtain additional copies of the prospectus and related documents from our Luxembourg Listing Agent at the following address:
Banque Internationale à Luxembourg S.A.
69 route d’Esch
L - 2953 Luxembourg
Grand Duchy of Luxembourg
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Petróleos Mexicanos | ||
By: | /s/ José Alberto Jiménez Hernández | |
José Alberto Jiménez Hernández | ||
Associate Managing Director of Finance |
Date: September 29, 2023
FORWARD-LOOKING STATEMENTS
This report contains words, such as “believe,” “expect,” “anticipate” and similar expressions that identify forward looking statements, which reflect our views about future events and financial performance. We have made forward-looking statements that address, among other things, our:
• | exploration and production activities, including drilling; |
• | activities relating to import, export, refining, transportation, storage and distribution of petrochemicals, petroleum, natural gas and oil products; |
• | activities relating to our lines of business; |
• | projected and targeted capital expenditures and other costs; |
• | trends in international and Mexican crude oil and natural gas prices; |
• | liquidity and sources of funding, including our ability to continue operating as a going concern; |
• | farm-outs, joint ventures and strategic alliances with other companies; and |
• | the monetization of certain of our assets. |
Actual results could differ materially from those projected in such forward-looking statements as a result of various factors that may be beyond our control. These factors include, but are not limited to:
• | general economic and business conditions, including changes in international and Mexican crude oil and natural gas prices, refining margins and prevailing exchange rates; |
• | credit ratings and limitations on our access to sources of financing on competitive terms; |
• | our ability to find, acquire or gain access to additional reserves and to develop, either on our own or with our strategic partners, the reserves that we obtain successfully; |
• | the level of financial and other support we receive from the Mexican Government; |
• | national or international public health events, including the outbreak of pandemic or contagious disease, such as the COVID-19 pandemic; |
• | the outbreak of military hostilities, including an escalation of Russia’s invasion of Ukraine and the potential destabilizing effect of such conflict; |
• | effects on us from competition, including on our ability to hire and retain skilled personnel; |
• | uncertainties inherent in making estimates of oil and gas reserves, including recently discovered oil and gas reserves; |
• | technical difficulties; |
• | significant developments in the global economy; |
• | significant economic or political developments in Mexico and the United States; |
• | developments affecting the energy sector; |
• | changes in, or failure to comply with, our legal regime or regulatory environment, including with respect to tax, environmental regulations, fraudulent activity, corruption and bribery; |
• | receipt of governmental approvals, permits and licenses; |
• | natural disasters, accidents, blockades and acts of sabotage or terrorism; |
• | the cost and availability of adequate insurance coverage; and |
• | the effectiveness of our risk management policies and procedures. |
Accordingly, undue reliance should not be placed on these forward-looking statements. In any event, these statements speak only as of their dates, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.