Cases & Deals

Mexican development banks grant bridge loan for up to US$900 million to PEMEX’s subsidiary for modernization of Tula and Salina Cruz refineries

Client(s) Bancomext, Banobras, NAFIN, and PEMEX

Jones Day represented Bancomext, Banobras and NAFIN (Mexican development banks) and PEMEX, in connection with the amendment and increase of a bridge loan for up to US$900 million granted to PTI Infraestructura (a subsidiary of PEMEX), with PEMEX as joint obligor. PTI will use the proceeds to finance the first stages of the modernization works of the Tula and Salina Cruz PEMEX refineries located at Hidalgo and Oaxaca, Mexico. Previously, in December 2021, Jones Day advised Bancomext and NAFIN with the original credit tranche to PTI for the finance of Tula refinery.