$250 Million Offering by Banco Inbursa, Inversora Carso and Control Empresarial
December 15, 2017
Cleary Gottlieb represented Banco Inbursa, Inversora Carso and Control Empresarial as selling shareholders in their prepaid forward sale to the newly formed 2017 Mandatory Exchangeable Trust and the issuance by the Trust of $250 million of mandatory exchangeable securities, which are exchangeable in three years into New York Times Company Class A Common Stock.
The offering was conducted as a private placement in the United States under Rule 144A under the Securities Act. The transaction priced on December 8, 2017, and closed on December 15, 2017. Barclays Capital Inc. acted as sole bookrunner.
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