New York, NY
(July 31, 2012) - Paul Hastings LLP, a leading global law firm, announced today that the firm is representing Grupo Petrotemex, S.A. de C.V., a Mexico-based leading petrochemical company specializing in the manufacturing of polyester-related raw materials, in connection with the successful cash tender offer for $275 million, and consent solicitation to amend the provisions, of Petrotemex's 9.5% Senior Notes due 2014, issued in 2009.
The successful liability management transaction, where more than a majority of the bonds were tendered, serves to reduce Petrotemex's level of indebtedness and reduce its interest costs. Petrotemex is a subsidiary of Mexicos largest petrochemical company Alpek S.A.B. de C.V., which conducted an IPO in April 2012 on the Mexican stock exchange and internationally. JPMorgan Securities LLC was dealer manager in the tender offer and Simpson Thacher was counsel to the dealer manager.
Latin America practice partners Joy Gallup
and Mike Fitzgerald
led the Paul Hastings team, which also included associates Stephanie Swanson
and Iris Figueroa
and foreign associate Carlos Jimenez. Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.