Obligation Mexica 3.75% ( US91087BAE02 ) en USD

Société émettrice Mexica
Prix sur le marché refresh price now   97.9 %  ▲ 
Pays  Mexique
Code ISIN  US91087BAE02 ( en USD )
Coupon 3.75% par an ( paiement semestriel )
Echéance 10/01/2028



Prospectus brochure de l'obligation Mexico US91087BAE02 en USD 3.75%, échéance 10/01/2028


Montant Minimal /
Montant de l'émission /
Cusip 91087BAE0
Prochain Coupon 11/01/2026 ( Dans 141 jours )
Description détaillée Le Mexique, pays d'Amérique du Nord, possède une riche histoire précolombienne, une culture vibrante mêlant influences indigènes et européennes, et une grande diversité géographique allant de déserts arides à des forêts tropicales luxuriantes.

Le marché financier présente actuellement une obligation de type souverain émise par le Mexique, identifiée par le code ISIN US91087BAE02 et le code CUSIP 91087BAE0, un titre de créance libellé en dollars américains (USD) émis par le gouvernement du Mexique, une nation souveraine et acteur économique majeur d'Amérique latine, dont les finances publiques sont régulièrement évaluées par les marchés internationaux. Ce titre offre un taux de coupon annuel de 3.75%, avec des paiements d'intérêts effectués deux fois par an, et arrivera à maturité le 10 janvier 2028; il se négocie actuellement sur le marché à 97.68% de sa valeur nominale.







Prospectus Supplement dated January 23, 2018
To Prospectus dated March 10, 2016

United Mexican States

U.S. $2,555,196,000 3.750% Global Notes due 2028
U.S. $645,274,000 4.600% Global Notes due 2048

The 3.750% Global Notes due 2028 (the "2028 notes") will mature on January 11, 2028. The 4.600% Global Notes due
2048 (the "2048 notes") will mature on February 10, 2048. We refer to the 2028 notes and the 2048 notes collectively as the
"notes." Mexico will pay interest on the 2028 notes on January 11 and July 11 of each year, commencing July 11, 2018.
Mexico will pay interest on the 2048 notes on February 10 and August 10 of each year, commencing February 10, 2018.
Mexico may redeem the notes, in whole or in part, before maturity, at par plus the Make-Whole Amount and accrued interest,
as described herein. The notes will not be entitled to the benefit of any sinking fund. The offering of the 2028 notes and the
offering of the 2048 notes, each pursuant to this prospectus supplement, are not contingent upon one another.
The 2048 notes will be consolidated and form a single series with, and be fungible with, the outstanding U.S.
$1,880,000,000 4.600% Global Notes due 2048 (CUSIP: 91087B AD2, ISIN US91087BAD29) previously issued by Mexico.
The notes will be issued under an indenture, and each of the 2028 notes and the 2048 notes constitutes a separate series
under the indenture. The indenture contains provisions regarding future modifications to the terms of the notes that differ from
those applicable to Mexico's outstanding public external indebtedness issued prior to November 10, 2014. Under these
provisions, which are described beginning on page 17 of the accompanying prospectus dated March 10, 2016, Mexico may
amend the payment provisions of the notes and other reserved matters listed in the indenture with the consent of the holders of:
(1) with respect to a single series of notes, more than 75% of the aggregate principal amount of the outstanding notes of such
series; (2) with respect to two or more series of notes, if certain "uniformly applicable" requirements are met, more than 75%
of the aggregate principal amount of the outstanding notes of all series affected by the proposed modification, taken in the
aggregate; or (3) with respect to two or more series of notes, more than 66 2/3% of the aggregate principal amount of the
outstanding notes of all series affected by the proposed modification, taken in the aggregate, and more than 50% of the
aggregate principal amount of the outstanding notes of each series affected by the proposed modification, taken individually.
The outstanding 2048 notes have been listed on the Luxembourg Stock Exchange. Application has been made to list the
2028 notes and the new 2048 notes on the Luxembourg Stock Exchange and to have the notes admitted to trading on the Euro
MTF Market of the Luxembourg Stock Exchange.
Neither the Securities and Exchange Commission ("SEC") nor any other regulatory body has approved or
disapproved of these securities or determined whether this prospectus supplement or the related prospectus is truthful
or complete. Any representation to the contrary is a criminal offense.
The notes have not been and will not be registered with the National Securities Registry maintained by the Mexican
National Banking and Securities Commission ("CNBV"), and therefore may not be offered or sold publicly in Mexico.
The notes may be offered or sold to qualified and institutional investors in Mexico, pursuant to the private placement
exemption set forth under Article 8 of the Mexican Securities Market Law. As required under the Mexican Securities
Market Law, Mexico will give notice to the CNBV of the offering of the notes under the terms set forth herein. Such
notice will be submitted to the CNBV to comply with the Mexican Securities Market Law, and for informational
purposes only. The delivery to, and receipt by, the CNBV of such notice does not certify the solvency of Mexico, the
investment quality of the notes, or that the information contained in this prospectus supplement, the prospectus
supplement or the prospectus is accurate or complete. Mexico has prepared this prospectus supplement and is solely
responsible for its content, and the CNBV has not reviewed or authorized such content.



Proceeds to Mexico,
Price to Public(1)
Underwriting Discounts
before expenses(1)
Per 2028 note
99.571%
0.170%
99.401%
Total for the 2028 notes
U.S. $2,544,234,209.16
U.S. $4,343,833.20
U.S. $2,539,890,375.96
Per 2048 note
98.493%
0.190%
98.303%
Total for the 2048 notes
U.S. $635,549,720.82
U.S. $1,226,020.60
U.S. $634,323,700.22
(1) Plus accrued interest, if any, from January 11, 2018 for the 2028 notes and October 10, 2017 for the 2048 notes to, but excluding, the date
of settlement, which was January 11, 2018. The amount of accrued interest on the 2048 notes from October 10, 2017 to January 11, 2018 is
$7,503,102.68.
The notes were delivered in book-entry form only through the facilities of The Depository Trust Company ("DTC"), the
Euroclear System ("Euroclear") and Clearstream Banking, société anonyme, Luxembourg ("Clearstream, Luxembourg")
against payment on January 11, 2018.
Joint Bookrunners


BBVA
BofA Merrill Lynch
J.P. Morgan
____________________
January 23, 2018

This prospectus supplement and the attached prospectus dated March 10, 2016 shall constitute a prospectus for the purpose of the
Luxemburg Law dated 10 July 2005 on Prospectus for Securities, as amended.






TABLE OF CONTENTS

Prospectus Supplement
Prospectus
About this Prospectus ........................................ 2
About this Prospectus Supplement ................ S-2
Forward-Looking Statements ............................ 2
Forward-Looking Statements ......................... S-4
Data Dissemination ............................................ 3
Use of Proceeds.............................................. S-5
Use of Proceeds ................................................. 3
Summary ........................................................ S-6
Risk Factors ....................................................... 4
Description of the Notes .............................. S-11
Description of the Securities .............................. 7
Recent Developments .................................. S-14
Taxation ........................................................... 27
Taxation ....................................................... S-33
Plan of Distribution ......................................... 34
Certain Benefit Plan Considerations ............ S-34
Official Statements .......................................... 43
Plan of Distribution (Conflicts of Interest) .. S-35
Validity of the Securities ................................. 44
Authorized Representative............................... 45
Where You Can Find More Information ......... 45
Glossary ........................................................... 47

____________________
Mexico is a foreign sovereign state. Consequently, it may be difficult for investors to obtain
or realize upon judgments of courts in the United States against Mexico. See "Risk Factors" in the
accompanying prospectus.
1



ABOUT THIS PROSPECTUS SUPPLEMENT

This prospectus supplement supplements the accompanying prospectus dated March 10, 2016,
relating to Mexico's debt securities and warrants. If the information in this prospectus supplement differs
from the information contained in the prospectus, you should rely on the information in this prospectus
supplement.
You should read this prospectus supplement along with the accompanying prospectus. Both
documents contain information you should consider when making your investment decision. Mexico is
responsible for the information contained and incorporated by reference in this prospectus and in any
related free-writing prospectus or prospectus supplement that Mexico prepares or authorizes. Mexico has
not authorized anyone else to provide you with any other information and takes no responsibility for any
other information that others may give you. Mexico and the underwriters are offering to sell the notes
and seeking offers to buy the notes only in jurisdictions where it is lawful to do so. The information
contained in this prospectus supplement and the accompanying prospectus is current only as of the dates
of this prospectus supplement and the accompanying prospectus, respectively.
Mexico is furnishing this prospectus supplement and the accompanying prospectus solely for use
by prospective investors in connection with their consideration of a purchase of the notes. Mexico
confirms that:
the information contained in this prospectus supplement and the accompanying prospectus is
true and correct in all material respects and is not misleading;
it has not omitted other facts the omission of which makes this prospectus supplement and the
accompanying prospectus as a whole misleading; and
it accepts responsibility for the information it has provided in this prospectus supplement and
the accompanying prospectus.
This prospectus supplement does not constitute an offer to sell or the solicitation of an offer to
buy any notes in any jurisdiction to any person to whom it is unlawful to make the offer or solicitation in
such jurisdiction. The distribution of this prospectus supplement and the offer or sale of notes may be
restricted by law in certain jurisdictions. Mexico and the underwriters do not represent that this
prospectus supplement may be lawfully distributed, or that any notes may be lawfully offered, in
compliance with any applicable registration or other requirements in any such jurisdiction, or pursuant to
an exemption available thereunder, or assume any responsibility for facilitating any such distribution or
offering. In particular, no action has been taken by Mexico or the underwriters which would permit a
public offering of the notes or distribution of this prospectus supplement in any jurisdiction where action
for that purpose is required. Accordingly, no notes may be offered or sold, directly or indirectly, and
neither this prospectus supplement nor any offering material may be distributed or published in any
jurisdiction, except under circumstances that will result in compliance with any applicable laws and
regulations and the underwriters have represented that all offers and sales by them will be made on the
same terms. Persons into whose possession this prospectus supplement comes are required by Mexico
and the underwriters to inform themselves about and to observe any such restriction. In particular, there
are restrictions on the distribution of this prospectus supplement and the offer or sale of notes in Belgium,
Canada, Chile, Colombia, Denmark, the European Economic Area, France, Germany, Hong Kong, Italy,
Japan, Mexico, the Netherlands, Norway, Peru, Singapore, Spain, Switzerland, the United Kingdom and
Uruguay, see the section entitled "Plan of Distribution" in this prospectus supplement and in the
accompanying prospectus.
2







PROHIBITION OF SALES TO EEA RETAIL INVESTORS ­ The notes are not intended to
be offered, sold or otherwise made available to and should not be offered, sold or otherwise made
available to any retail investor in the European Economic Area ("EEA"). For these purposes, a retail
investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1)
of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive
2002/92/EC (as amended, the "Insurance Mediation Directive"), where that customer would not qualify
as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key
information document required by Regulation (EU) No 1286/2014 (the "PRIIPs Regulation") for offering
or selling the notes or otherwise making them available to retail investors in the EEA has been prepared
and therefore offering or selling the notes or otherwise making them available to any retail investor in the
EEA may be unlawful under the PRIIPS Regulation.
3







FORWARD-LOOKING STATEMENTS

This prospectus supplement may contain forward-looking statements. Statements that are not
historical facts, including statements about Mexico's beliefs and expectations, are forward-
looking statements. These statements are based on current plans, estimates and projections, and therefore
you should not place undue reliance on them. Forward-looking statements speak only as of the date they
are made, and Mexico undertakes no obligation to update publicly any of them in light of new
information or future events. Forward-looking statements involve inherent risks and uncertainties. Mexico
cautions you that a number of important factors could cause actual results to differ materially from those
contained in any forward-looking statement. Such factors include, but are not limited to:

· Adverse external factors, such as high international interest rates, low oil prices and recession or low
growth in Mexico's trading partners. High international interest rates could increase Mexico's

expenditures, low oil prices could decrease the Mexican Government's revenues and recession or
low growth in Mexico's main trading partners could lead to fewer exports. A combination of these
factors could negatively affect Mexico's current account.
· Instability or volatility in the international financial markets. This could lead to domestic volatility,

making it more complicated for the Mexican Government to achieve its macroeconomic goals. This
could also lead to declines in foreign investment inflows, portfolio investment in particular.
· Adverse domestic factors, such as domestic inflation, high domestic interest rates, exchange rate

volatility and political uncertainty. Each of these could lead to lower growth in Mexico, declines in
foreign direct and portfolio investment and potentially lower international reserves.

4







USE OF PROCEEDS
The net proceeds to Mexico from the sale of the notes will be approximately U.S.
$3,173,964,076.18, after the deduction of the underwriting discount and Mexico's share of the expenses
in connection with the sale of the notes, which are estimated to be approximately U.S. $250,000. Mexico
intends to use the net proceeds of the sale of the notes, (i) in part, for refinancing, repurchase or retirement
of domestic and/or external indebtedness of Mexico from time to time, including to pay the purchase
price for certain outstanding notes of Mexico, which Mexico may purchase pursuant to a tender offer (the
"Tender Offer"), on the terms and subject to the conditions set forth in the offer to purchase, dated
January 3, 2018 (the "Offer to Purchase") and, (ii) in part, for the general purposes of the Government of
Mexico. The underwriters of this offering are acting as joint dealer managers for the Tender Offer. None
of the underwriters shall have any responsibility for the application of the net proceeds of the notes.
5







SUMMARY
This summary highlights information contained elsewhere in this prospectus supplement and the
accompanying prospectus. It does not contain all the information that you should consider before
investing in the notes. You should carefully read this entire prospectus supplement.


Issuer
The United Mexican States
Aggregate Principal Amount
For the 2028 notes: U.S. $2,555,196,000
For the 2048 notes: U.S. $645,274,000
Issue Price
For the 2028 notes: 99.571%, plus accrued interest, if any, from
January 11, 2018
For the 2048 notes: 98.493%, plus accrued interest, if any, from
October 10, 2017
Issue Date
For the 2028 notes: January 11, 2018
For the 2048 notes: January 11, 2018
Maturity Date
For the 2028 notes: January 11, 2028
For the 2048 notes: February 10, 2048
Specified Currency
U.S. dollars (U.S. $)
Authorized Denominations
U.S. $200,000 and integral multiples of U.S. $1,000 in excess
thereof
Fungibility
The 2048 notes will be consolidated and form a single series
with, and be fungible with, the outstanding $1,880,000,000
4.600% Global Notes due 2048 (CUSIP: 91087B AD2, ISIN
US91087BAD29) previously issued by Mexico.
Form
Registered; Book-Entry through the facilities of DTC, Euroclear
and Clearstream, Luxembourg
Interest Rate
For the 2028 notes: 3.750% per annum, accruing from January
11, 2018
For the 2048 notes: 4.600% per annum, accruing from October
10, 2017
Interest Payment Date
For the 2028 notes: Semi-annually on January 11 and July 11 of
each year, commencing on July 11, 2018
For the 2048 notes: Semi-annually on February 10 and August
10 of each year, commencing on February 10, 2018
6




Regular Record Date
For the 2028 notes: January 5 and July 5 of each year
For the 2048 notes: February 4 and August 4 of each year
Status
The notes will constitute direct, general, unconditional and
unsubordinated public external indebtedness of Mexico for
which the full faith and credit of Mexico is pledged. The notes
of each series rank and will rank without any preference among
themselves and equally with all other unsubordinated public
external indebtedness of Mexico. It is understood that this
provision shall not be construed so as to require Mexico to make
payments under the notes ratably with payments being made
under any other public external indebtedness.
Optional Redemption
With respect to each series of notes, Mexico will have the right
at its option, upon giving not less than 30 days' nor more than
60 days' notice, to redeem the notes of such series, in whole or
in part, at any time or from time to time prior to their maturity,
at a redemption price equal to the principal amount thereof, plus
the Make-Whole Amount (as defined below), plus interest
accrued but not paid on the principal amount of such notes to the
date of redemption.
"Make-Whole Amount" means the excess of (i) the sum of the
present values of each remaining scheduled payment of principal
and interest on the notes to be redeemed (exclusive of interest
accrued but not paid to the date of redemption), discounted to
the redemption date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate
(as defined below) plus (a) in the case of the 2028 notes, 20
basis points or (b) in the case of the 2048 notes, 30 basis points,
over (ii) the principal amount of such notes.

"Treasury Rate" means, with respect to any redemption date, the
rate per annum equal to the semi-annual equivalent yield to
maturity or interpolated maturity of the Comparable Treasury
Issue (as defined below), assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price (as defined
below) for such redemption date.

"Comparable Treasury Issue" means the United States Treasury
security or securities selected by an Independent Investment
Banker (as defined below) as having an actual or interpolated
maturity comparable to the remaining term of the notes to be
redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new
issues of investment grade debt securities of a comparable
maturity to the remaining term of such notes.
7








"Independent Investment Banker" means one of the Reference
Treasury Dealers (as defined below) appointed by Mexico.

"Comparable Treasury Price" means, with respect to any
redemption date, (i) the average of the Reference Treasury
Dealer Quotations for such redemption date, after excluding the
highest and lowest such Reference Treasury Dealer Quotation
(as defined below) or (ii) if Mexico obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such
quotations.

"Reference Treasury Dealer" means (a) with respect to the 2028
notes, each of J.P. Morgan Securities LLC and Merrill Lynch,
Pierce, Fenner & Smith Incorporated or their affiliates which are
primary United States government securities dealers and their
respective successors, and three other Primary Treasury Dealers
(as defined below) selected by Mexico and (b) with respect to
the 2048 notes, each of Goldman Sachs & Co. LLC, HSBC
Securities (USA) Inc. and Morgan Stanley & Co. LLC or their
affiliates which are primary United States government securities
dealers and their respective successors, and two other Primary
Treasury Dealers (as defined below) selected by Mexico;
provided that if any of the foregoing shall cease to be a primary
United States government securities dealer in the City of New
York (a "Primary Treasury Dealer"), Mexico will substitute
therefor another Primary Treasury Dealer.

"Reference Treasury Dealer Quotation" means, with respect to
each Reference Treasury Dealer and any redemption date, the
average, as determined by Mexico, of the bid and ask prices for
the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to Mexico
by such Reference Treasury Dealer at 3:30 p.m., New York time
on the third business day preceding such redemption date.
Optional Repayment
Holders of the notes will not have the option to elect repayment
by Mexico before the maturity dates of the notes.
Underwriters
BBVA Securities Inc.
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
Purchase Price
For the 2028 notes: 99.401%, plus accrued interest, if any, from
January 11, 2018
For the 2048 notes: 98.303%, plus accrued interest from October
10, 2017
8