Petróleos Mexicanos Issued Under U.S. $32,000,000,000 Medium-Term Notes Program, Series C jointly and severally guaranteed by Pemex-Exploración y Producción, Pemex-Refinación and Pemex-Gas y Petroquímica Básica Exchange and Registration Rights AgreementExchange and Registration Rights Agreement • July 9th, 2013 • Pemex Gas & Basic Petrochemicals • Crude petroleum & natural gas • New York
Petróleos Mexicanos (the “Issuer”), a decentralized public entity of the Federal Government of the United Mexican States (“Mexico”), proposes to issue and sell to you (collectively, the “Purchasers”) upon the terms set forth in the Terms Agreement (as defined herein) its 3.500% Notes due 2023 (the “Notes”), which are jointly and severally guaranteed by Pemex-Exploración y Producción, Pemex-Refinación and Pemex-Gas y Petroquímica Básica (each a “Guarantor” and, collectively, the “Guarantors”), each of which is a decentralized public entity of the Federal Government of Mexico. As an inducement to the Purchasers to enter into the Terms Agreement and in satisfaction of a condition to the obligations of the Purchasers thereunder, the Issuer agrees with the Purchasers for the benefit of holders (as defined herein) from time to time of the Registrable Securities (as defined herein) as follows:
