Obbligazione Mexico 11.5% ( US593048AX90 ) in USD

Emittente Mexico
Prezzo di mercato refresh price now   100 USD  ▼ 
Paese  Messico
Codice isin  US593048AX90 ( in USD )
Tasso d'interesse 11.5% per anno ( pagato 2 volte l'anno)
Scadenza 14/05/2026



Prospetto opuscolo dell'obbligazione Mexico US593048AX90 en USD 11.5%, scadenza 14/05/2026


Importo minimo 100 000 USD
Importo totale 320 445 000 USD
Cusip 593048AX9
Standard & Poor's ( S&P ) rating N/A
Moody's rating N/A
Coupon successivo 15/05/2025 ( In 17 giorni )
Descrizione dettagliata Il Messico č una nazione del Nord America caratterizzata da una ricca storia precolombiana, una vivace cultura moderna e una grande diversitā geografica, che spazia da deserti aridi a foreste lussureggianti e imponenti montagne.

The Obbligazione issued by Mexico ( Mexico ) , in USD, with the ISIN code US593048AX90, pays a coupon of 11.5% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 14/05/2026







THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION INTO ITALY
THE INVITATION IS RESTRICTED BY LAW, INCLUDING THE LAWS OF BELGIUM AND THE UNITED KINGDOM

This announcement is not an offer or a solicitation of offers. The Invitation is made solely by the invitation supplement, the
prospectus supplement and the prospectus referred to below. The Invitation does not constitute, and may not be used in
connection with, an offer or solicitation by anyone in any jurisdiction where an offer or solicitation is not authorized or in which
the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or
solicitation. Copies of the invitation supplement, the prospectus supplement and the prospectus describing the Invitation can be
obtained by contacting Kredietbank S.A. Luxembourgeoise, 43, Boulevard Royal, L-2955 Luxembourg.

United Mexican States
Mexico Announces Final Results of its Invitation

January 18, 2007

The United Mexican States ("Mexico") announced today the final results of its invitation to
owners of Old Bonds to submit, in a modified Dutch auction for each series of Old Bonds, offers to
exchange Old Bonds for 6.75% Global Notes due 2034 and a U.S. dollar amount of cash, and/or offers to
sell Old Bonds for a U.S. dollar amount of cash (the "Invitation"). Capitalized terms used but not defined
herein shall have the meanings set forth in the invitation supplement dated January 8, 2007, the
prospectus supplement dated April 10, 2006 and the prospectus dated April 10, 2006 (the "PD
Prospectus"). This announcement updates some of the figures contained in Mexico's initial results
announcement dated January 12, 2006, following the reconciliation of the Offers and Bond Instructions
submitted pursuant to the Invitation.

Following the Invitation and the cancellation of the Old Bonds tendered and accepted for
exchange or purchase by Mexico, U.S. $1,703,447,000 principal amount of 8.125% Global Bonds due
2019 ("2019 Bonds"), U.S. $753,456,000 principal amount of 8.00% Global Notes due 2022 ("2022
Notes"), U.S. $338,580,000 principal amount of 11.50% Global Bonds due May 15, 2026 ("2026
Bonds"), U.S. $1,878,333,000 principal amount of 8.30% Global Notes due 2031 ("2031 Notes") and
U.S. $1,315,425,000 principal amount of 7.500% Global Notes due 2033 ("2033 Notes") will remain
outstanding.
Pursuant to the Invitation, Mexico will issue U.S. $2,266,566,000 aggregate principal amount of
Reopened Notes and pay U.S. $1,057,454,067 of cash (including Cash Payments pursuant to offers to
exchange Old Bonds for 2031 Notes and 2033 Notes, cash used to purchase Old Bonds pursuant to offers
to sell Old Bonds for cash and cash payments in respect of rounded amounts) in consideration for U.S.
$2,796,354,000 aggregate principal amount of Old Bonds, comprised of:

Series of Old
Principal Amount of Old Bonds
Principal Amount of Old
Bonds
Exchanged for Reopened Notes
Bonds Purchased for Cash
2019 Bonds
U.S. $248,016,000
U.S. $73,971,000
2022 Notes
U.S. $268,472,000
U.S. $27,265,000
2026 Bonds
U.S. $152,992,000
U.S. $42,092,000
2031 Notes
U.S. $684,188,000
U.S. $128,905,000
2033 Notes
U.S. $1,037,569,000
U.S. $132,884,000

For each series of Old Bonds delivered and accepted for exchange pursuant to offers to exchange
Old Bonds for Reopened Notes, Mexico will issue the following aggregate principal amount of Reopened
Notes and will make the following Cash Payment:






Principal Amount of Reopened
Series of Old Bonds Notes to Be Issued in Exchange
Cash Payment
2019 Bonds
U.S. $277,765,000
U.S. $0.00
2022 Notes
U.S. $305,495,000
U.S. $0.00
2026 Bonds
U.S. $229,822,000
U.S. $0.00
2031 Notes
U.S. $671,174,000
U.S. $164,205,120
2033 Notes
U.S. $782,310,000
U.S. $383,900,530

Mexico will not make any payments in respect of any accrued and unpaid interest on Old Bonds
accepted for exchange. Holders of Old Bonds who exchange their Old Bonds for Reopened Notes will
not be required to pay an amount equal to the interest accrued since the last interest payment date of the
Reopened Notes issued to exchanging holders. These amounts have been incorporated into and form part
of the calculation of the Exchange Ratios, which will affect the principal amount of Reopened Notes
issued to such exchanging holders.
Application has been made to list the Reopened Notes on the Luxembourg Stock Exchange and to
admit the Reopened Notes for trading on the regulated market of the Luxembourg Stock Exchange. The
Reopened Notes will be consolidated and form a single series with, and be fully fungible with, the
outstanding U.S. $1,500,000,000 6.75% Global Notes due 2034 (CUSIP No. 91086QAS7, ISIN
US91086QAS75, Common Code 020218118).
In determining which offers to accept pursuant to the Invitation, Mexico set the Clearing Spread
Differential for each series of Old Bonds as follows:

Clearing Spread Differential for
Clearing Spread Differential
Old Bonds Accepted for
for Old Bonds Accepted for
Series of Old
Exchange
Purchase
Bonds
(basis points)
(basis points)
2019 Bonds
47
51
2022 Notes
33
37
2026 Bonds
17
12
2031 Notes
10
7
2033 Notes
6
9

With respect to offers to exchange Old Bonds for Reopened Notes, Mexico announced for each
series of Old Bonds that it will accept all non-competitive offers to exchange Old Bonds and all
competitive offers submitted at Offer Spread Differentials less than or equal to the applicable Clearing
Spread Differentials set forth in the table above.

With respect to offers to sell Old Bonds for cash, Mexico announced for each series of Old Bonds
that it will accept all non-competitive offers to sell Old Bonds for cash and all competitive offers
submitted at Offer Spread Differentials less than or equal to the applicable Clearing Spread Differentials
set forth in the table above.

The UST Benchmark Rate for the Invitation was 4.861%, and that the Reopened Notes Issue
Spread was 141 basis points. As a result, the Reopened Notes Issue Price was U.S. $1,062.43 and the
Reopened Notes Exchange Value was U.S. $1,085.30.

The applicable Old Bond Price, Old Bond Exchange Value and Exchange Ratio for each series of
Old Bonds accepted by Mexico in exchange for Reopened Notes are as set forth in the table below:

2




Series of Old
Old Bond Price
Old Bond Exchange
Bonds
for Exchange
Value Exchange
Ratio
2019 Bonds
U.S. $1,209.17
U.S. $1,215.72
1.120164
2022 Notes
U.S. $1,207.83
U.S. $1,235.61
1.138496
2026 Bonds
U.S. $1,607.19
U.S. $1,630.83
1.502650
2031 Notes
U.S. $1,267.33
U.S. $1,065.14
0.981425
2033 Notes
U.S. $1,165.58
U.S. $818.71
0.754360

For each U.S. $1,000 principal amount of Old Bonds delivered and accepted for purchase
pursuant to offers to sell Old Bonds for cash, Mexico will pay the following Purchase Price for each
series of Old Bonds:
Series of Old Bonds
Purchase Price
2019 Bonds
U.S. $1,213.26
2022 Notes
U.S. $1,212.44
2026 Bonds
U.S. $1,599.21
2031 Notes
U.S. $1,262.83
2033 Notes
U.S. $1,169.93

Mexico will also pay an aggregate of US$10,183,503 to holders whose Old Bonds have been delivered
and accepted for purchase pursuant to offers to sell Old Bonds for cash in respect of accrued interest on
the Old Bonds during the period from and including the most recent interest payment date up to but
excluding the Settlement Date.
Further information is provided in the PD Prospectus, which may be downloaded from the
Invitation Website at http://www.bondcom.com/ums, or obtained from the information agent, Bondholder
Communications Group, in New York, 30 Broad Street, 46th floor, New York, NY 10004 (Tel. +1 212
809 2663) Attention: Monique Santos (e-mail: [email protected]), or in London, 28 Throgmorton
Street, London EC2N 2AN (Tel. +44 20 7382 4580), or from either of the dealer managers.
The dealer managers for the Invitation are:

Barclays Capital Inc.
Morgan Stanley & Co. Incorporated
200 Park Avenue
1585 Broadway
New York, New York 10166
New York, New York 10036
Attention: Liability Management Group
Attention: Liability Management Group
In the United States, call toll free: (866) 307 8991
In the United States, call toll free: (800) 624 1808
Outside the United States, call collect: +1 212 412 4072
Outside the United States, call collect: +1 212 761 1864
In London, call +44 20 7773 5484


The Luxembourg Exchange Agent for the Invitation is:
Kredietbank S.A. Luxembourgeoise
43, Boulevard Royal
L-2955 Luxembourg
Attention: Luxembourg Exchange Agent
Reference: United Mexican States
Tel.: +352 4797 3916
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