We represented the deal manager and initial purchaser, in connection with the offering by vehicles of GICSA of MXN$14,000 million of its Senior A-1 Notes (USD$100 million); Senior A-2 Notes (MXN$7,200 million); Senior A-2 Notes (MXN$600 million); and Junior Notes (MXN$2,310 million).

We represented Citigroup Global Markets., Goldman Sachs, HSBC Securities (USA), JP Morgan Securities, BofA Securities, Credit Agricole Securities (USA) and Mizuho Securities USA, (1) in connection with the offers by Petróleos Mexicanos (i) to exchange certain securities for its 6.490% Notes due 2027 or its 7.690% Bonds due 2050, (ii) to exchange certain securities for its 6.840% Notes due 2030 or its 7.690% Bonds due 2050, and (iii) to exchange certain securities for its 7.690% Bonds due 2050; (2) in connection with the offering by Petróleos Mexicanos (PEMEX) of USD$1,250 million of its 6.490% Notes due 2027, USD$3,250 million of its 6.840% Notes due 2030 and USD$3,000 million of its 7.690% Bonds due 2050, guaranteed by Pemex Exploración y Producción, Pemex Transformación Industrial and Pemex Logística.

We represented Barclays Capital, BNP Paribas and Morgan Stanley, in connection with the offering by Crédito Real of €350 million of its 5.000% Senior Notes due 2027.

We represented BofA Securities, Citigroup Global Markets, HSBC Securities (USA), Santander Investment Securities and UBS Securities, in connection with the offering by Minera México of USD$1,000 million of its 4.500% Senior Notes due 2050.

We represented Citigroup Global Markets, HSBC Securities (USA), JP Morgan Securities, and MUFG Securities Americas, in connection with the offering by Alpek of USD$500 million of its 4.250% Senior Notes due 2029.

We represented BBVA Securities, Goldman Sachs, HSBC Securities and JP Morgan Securities, in connection with the offering by BBVA Bancomer of USD$750 million of its 5.875% Fixed Reset Subordinated Preferred Tier 2 Capital Notes due 2034 under the medium term note program of BBVA Bancomer and in connection with the offer to purchase by BBVA Bancomer of its 6.500% Fixed Rate Subordinated Preferred Notes due 2021.

We represented HSBC, JP Morgan, Mizuho and Santander, in connection with the offering by Grupo Bimbo of USD$600 million of its 4.000% Senior Notes due 2049.

We represented Industrias Peñoles, in connection with its offering of USD$1,100 million of its 4.150% Senior Notes due 2029, and 5.650% Senior Notes due 2049.