Orbia Advance Corporation’s $328 million Cash Tender Offer

Cleary Gottlieb Steen & Hamilton LLP represented Orbia Advance Corporation in the transaction.

Orbia Advance Corporation, S.A.B. de C.V. (Orbia), executed its abbreviated five-day cash tender offer for any and all of its outstanding 4.875% Senior Notes due 2022.  Approximately $328 million aggregate principal amount of 2022 Notes were tendered and accepted for purchase in the tender offer. BBVA Securities Inc. and Morgan Stanley & Co. LLC acted as dealer managers. The tender offer for the 2022 Notes launched on May 17, 2021, expired on May 21, 2021 and settled on May 26, 2021.  The tender offer was funded with the proceeds of an offering by Orbia of two series of sustainability-linked bonds in the international capital markets for a total principal amount of $1.1 billion.  

Orbia is a leading provider of products and solutions in multiple sectors, including construction, infrastructure, agriculture, health, transportation, telecommunications, energy and chemicals, and one of the world’s largest plastic pipes and fittings suppliers.

The Cleary corporate team advising Orbia included partners Jorge Juantorena (Picture), Jeff Karpf, and Manuel Silva; associates Stephanie Fontana and Brayan Acevedo Vazquez; and international lawyer Gabriela Gallo. Partner William McRae and associates Karl Heiland, and Jeeihn Lee advised on U.S. tax matters.

Involved fees earner: Brayan Acevedo Vazquez – Cleary Gottlieb Steen & Hamilton; Stephanie Fontana – Cleary Gottlieb Steen & Hamilton; Gabriela Gallo – Cleary Gottlieb Steen & Hamilton; Karl Heiland – Cleary Gottlieb Steen & Hamilton; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Jeffrey Karpf – Cleary Gottlieb Steen & Hamilton; William McRae – Cleary Gottlieb Steen & Hamilton; Manuel Silva – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Orbia Advance Corporation;

Author: Martina Bellini