Grupo Bimbo’s $600 Million Bond Offering


Cleary Gottlieb represented BBVA, Citigroup, JP Morgan, Morgan Stanley, MUFG and ING as initial purchasers in a global bond offering by Grupo Bimbo, S.A.B de C.V. of its US$600 million 4.00% senior notes.

The offering was conducted as a private placement in the United States under Rule 144A and an offshore offering in reliance on Regulation S. The transaction priced on September 3, 2019 and is expected to close on September 6, 2019.

Grupo Bimbo is a global consumer food company, the leader in the baking industry and a key player in the snacks industry. It has a portfolio of over 13,000 products spanning different categories and sold under their renowned brands. Founded in 1945, Grupo Bimbo has expanded significantly through a combination of steady organic growth and strategic acquisitions. As a result, it has become one of the largest baking companies in the world in terms of sales.

The Cleary team included partner Jorge Juantorena (Picture), associate Elena M. Vespoli, and international lawyer Mauricio Nieto. Counsel Scott Douglas Borisky and associates Karl Heiland and Anthony Thomas Yanez provided U.S. tax advice. Partner Paul Marquardt and associates Nathanael Kurcab and Michael Sanders provided sanctions and anti-money laundering advice.

Involved fees earner: Scott Douglas Borisky – Cleary Gottlieb Steen & Hamilton; Karl Heiland – Cleary Gottlieb Steen & Hamilton; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Nathanael Felix Kurcab – Cleary Gottlieb Steen & Hamilton; Paul Marquardt – Cleary Gottlieb Steen & Hamilton; Mauricio Nieto – Cleary Gottlieb Steen & Hamilton; Michael Sanders – Cleary Gottlieb Steen & Hamilton; Elena Vespoli – Cleary Gottlieb Steen & Hamilton; Anthony Thomas Yanez – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Banco Bilbao Vizcaya Argentaria (Bbva); ING Bank; Morgan Stanley; MUFG;

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Author: Ambrogio Visconti