Cases & Deals

CITGO completes $1.1 billion Senior Secured Notes offering

Client(s) CITGO Petroleum Corporation

Jones Day represented CITGO Petroleum Corporation ("CITGO"), a North American refiner, transporter, and marketer of transportation fuels, lubricants, petrochemicals and other petroleum-based industrial products, in connection with a Rule 144A and Regulation S offering of $1.1 billion aggregate principal amount of 8.375% Senior Secured Notes due 2029.

In connection with the offering, CITGO paid a dividend to its parent company, CITGO Holding, Inc., of approximately $1.12 billion to fund a portion of the redemption of all outstanding 9.25% CITGO Holding Senior Secured Notes due 2024.