Corporate Bond
Caruda Holdings International LLC
Face Value
$2,200,000,000.00
Interest
Nominal Yield of 5.00% per annum payable Semi-annually
Security/Collateral
All assets owned by the Issuer and its subsidiaries and Issuer’s business.
Insurance
Credit Default Risk Insurance Policy through Timber Creek Insurance Services, Inc.
Reinsurance
90% reinsurance through Certain AM Best A-Rated (REINSURANCE COVERAGE BY LLOYDS UNDERWRITING SYNDICATES)
Caruda Holdings International LLC (“CHI”), organized in the State of Delaware under the laws of United States of America, is offering (the ‘‘Offering’’) US$ 2,200,000,000 aggregate principal amount of 5.00% Senior Secured Notes due December 31, 2030 (the ‘‘SSNs” ’or” Notes”). Interest will be paid on the Notes on 1st of January, 1st day of July, of each year, beginning on 1st of July 2022. The Notes will mature on 31st of December 2030.
The Private Placement Memorandum is for the issuance of Senior Secured Notes (SSNs) by Caruda Holdings International LLC (“CHI”), a Delaware LLC; and, Caruda Holdings Mexico, S.A.P.I. de C.V. (the “Project Company”) which is a wholly owned subsidiary of CHI (the “Issuer”).
The CHI SSNs are DTC eligible and can be delivered electronically.
The purpose of the issuance is to fund the CHI vertically integrated oil operation that includes oil extraction, processing, wholesale operations and distribution. Mexico is a net oil importer and the issuer and the business plan is to change that equation and to turn Mexico into a net exporter by 2025.
In cooperation with the local development partner, Asesoría Técnica Industrial y Controles Asociados S.A. de C.V. (“ATICA”), under a Joint Venture Agreement, CHI has formed a partnership for the Development of the Project with proper permits which were granted by the Energy Regulatory Commission for purposes of exploration, drilling, exploitation, transportation, maintenance, storage, processing, distribution, and commercialization of hydrocarbons. The CHI local operational partner, ATICA, has 33 years of experience in the industrial and construction field. ATICA provides a wide domain in the field of hydrocarbons from maintenance to infrastructure to drilling and oil extraction, as well as the systems for measuring and technical support. ATICA maintains all required operational licenses.
The initial development of the project includes ten (10) wells for the production of hydrocarbons, which will produce nearly 2.0M barrels per month. CHI has the right to exploit 500 hectares (the “Blasillo Project”) which is located in the fields of the municipality of Huimanguillo Tabasco (El Blasillo field) with proven reserves for about 30 years.
The Project is considered today as the largest oil field in Mexico as certified by the National Hydrocarbons Commission (CNH) and Petróleos Mexicanos (PEMEX) which are the only government agencies that guarantee these reserves. A copy of the proven reserves report from CNH is attached to this email along with other documents.
The project is currently under development and all permits and certifications are in force.
The SSNs will be made available for trading in Private Capital Market Portals like ACE Portal or similar Portals.
Credit Default Risk Insurance Policy provided by Timber Creek Insurance Services, Inc., Program Manager for Timber Creek Surety, Inc. - NAIC# 17367 - part of the Timber Creek Group of Companies. The Insurance Policy has 90% reinsurance through Certain AM Best A-Rated (REINSURANCE COVERAGE BY LLOYDS UNDERWRITING SYNDICATES)
Summary of Offering
Please click on the file names below to access the documents.
Below are the parties involved in this transaction.
ISSUER
Caruda Holdings International, LLC
3500 South Dupont Hwy. Dover, Delaware 19901
LAW FIRM
Messer Law Group, PLLC
295 Madison St. 12th Floor, New York, NY 10017
INSURER
Timber Creek Surety, Inc.
NAIC# 17367
301 Louisiana Ave. Bogalusa, Los Angeles 70427
Reinsurer
Lloyd's of London
Lloyds Underwriting Syndicates
1 Lime St. London EC3M 7HA, United Kingdom
TRANSFER AGENT
Securities Transfer Corporation
2901 Dallas Pkwy, Suite 380, Plano, Texas 75093