Central America Bottling Corporation’s $500 Million Notes Offering


Hogan Lovells, Palacios & Asociados/Sercomi, Rodrigo, Elías & Medrano Abogados, Benjamín Valdez & Asociados, Lexim Abogados, DunnCox, Shearman & Sterling, Miranda & Amado, QIL+4 Abogados and Harneys have advised on the transation

Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as initial purchasers in a Rule 144A and Regulation S offering by The Central America Bottling Corporation of US$500 million aggregate principal amount of its 5.750% senior guaranteed notes due 2027.

Concurrently, Citigroup and J.P. Morgan acted as dealer managers in the Company’s five-day any and all cash tender offer of US$300 million aggregate principal amount of its 6.750% senior guaranteed notes due 2022 (the “2022 Notes”).

Central America Bottling Corporation used part of the proceeds from the 2027 Notes offering to purchase US$245.9 million aggregate principal amount of 2022 Notes pursuant to the tender offer and to redeem the remaining outstanding untendered 2022 Notes, resulting in the satisfaction and discharge of the related indenture simultaneously with the settlement of the tender offer and closing of the 2027 Notes offering on January 31, 2017.

Central America Bottling Corporation produces, distributes and markets beverage products that include brands owned by PepsiCo and AmBev, as well as its proprietary brands such as LivSmart. Its products include carbonated soft drinks, bottled drinking water, sports drinks, energy drinks, juices, nectars, tea and beer. Its operating region is principally comprised of Guatemala, Southern Honduras, Nicaragua, El Salvador, Puerto Rico, Jamaica, Ecuador, Peru and Argentina.

In US, Hogan Lovells has advised Central America Bottling Corporation with Oscar Stephens, José Valdivia, Rebecca Francus, Elizabeth Olaya Márquez and Thais Lorenzi Ambrosano.

In Guatemala, Palacios & Asociados/Sercomi has advised Central America Bottling Corporation with Marco Palacios.

In Peru, Rodrigo, Elías & Medrano Abogados has advised Central America Bottling Corporation with Sandro Fuentes, Jorge Trelles and Sabrina Montoya.

In El Salvador Benjamín Valdez & Asociadoshas advised Central America Bottling Corporation with Benjamín M. Valdez Tamayo, Luis Bernardo Tevez, Diego Ciudad Real, Raúl García and Alejandro Hernández.

In Ecuador, Lexim Abogados has advised Central America Bottling Corporation with Jorge Cevallos Carrera and Diego Herrera.

In Jamaica, DunnCox has advised Central America Bottling Corporation with Joanne Wood Rattray.

Shearman & Sterling has advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC with a team including included partner Antonia Stolper (Picture) (New York-Capital Markets); counsel Alejandro Gordano (London-Capital Markets); and associates Antonio Herrera Cuevas (San Francisco-Capital Markets), Erika Khalek (New York-Corporate); and international associate Ana Maria Alpizar (New York-Capital Markets). Other Shearman & Sterling lawyers involved in the transaction were counsel Jeffrey Tate (Washington, DC-Tax) and associate Michael Daly (Washington, DC-Tax).

In Perù, Miranda & Amado has advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC with Juan Luis Avendaño C, Álvaro del Valle, Víctor León and María Alejandra Justo.

In Guatemala, QIL+4 Abogados has advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC with Alejandro Cofiño.

In British Virgin Islands, Harneys has advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC with Tanya Cassie-Parker.

Involved fees earner: Alejandro Cofiño – QIL+4 Abogados; Joanne Wood Rattray – DunnCox; Benjamín Valdez Tamayo – Benjamín Valdez & Asociados; Luis Tevez Rivas – Benjamín Valdez & Asociados; Marco Antonio Palacios – Palacios & Asociados/Sercomi ; Jorge Cevallos Carrera – LeximAbogados; Diego Herrera Silva – LeximAbogados; Jorge Trelles – Rodrigo, Elías & Medrano Abogados; Sandro Fuentes Acurio – Rodrigo, Elías & Medrano Abogados; Juan Luis Avendaño – Miranda & Amado Abogados; Álvaro del Valle Roeder – Miranda & Amado Abogados; Víctor León Chiri – Miranda & Amado Abogados; María Alejandra Justo O’Hara – Miranda & Amado Abogados; Tanya Cassie-Parker – Harneys; Oscar Stephens – Hogan Lovells; José Valdivia – Hogan Lovells; Elizabeth Olaya Marquez – Hogan Lovells; Antonia Stolper – Shearman & Sterling; Alejandro Gordano – Shearman & Sterling; Antonio Herrera Cuevas – Shearman & Sterling; Erika Khalek – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Michael Daly – Shearman & Sterling;

Law Firms: QIL+4 Abogados; DunnCox; Benjamín Valdez & Asociados; Palacios & Asociados/Sercomi ; LeximAbogados; Rodrigo, Elías & Medrano Abogados; Miranda & Amado Abogados; Harneys; Hogan Lovells; Shearman & Sterling;

Clients: Citigroup Global Markets Ltd; JP Morgan Securities; Central America Bottling Corporation;

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Author: Ambrogio Visconti