Global law firm White & Case LLP represented Crédit Agricole, France’s state-owned retail bank, in a US$1 billion financing for PMI Trading Limited and PMI. Holdings BV, both subsidiaries of Petróleos Mexicanos (PEMEX), Mexico’s largest hydrocarbon and petrochemical producer.

The Firm advised Crédit Agricole Corporate and Investment Bank, New York Branch, as administrative agent, and Crédit Agricole Corporate and Investment Bank, London Branch, as collateral agent, in amending and restating an existing US$500 million syndicated senior secured credit facility for PMI Trading.

The financing was increased to US$1 billion, with PMI Holdings added as an additional borrower.

The White & Case team comprised partner Emilio J. Alvarez-Farré and associates Juan Delgado and Guillermo Jover.