Alpek in Debut Global Bond Offering

November 20, 2012

Cleary Gottlieb represented Citigroup Global Markets, Goldman Sachs, HSBC Securities and J.P. Morgan Securities, as initial purchasers in the debut global bond offering by Alpek. The transaction consisted of an offering of $650 million 4.500% senior notes due 2022 issued and sold by Alpek and guaranteed by several of Alpek’s subsidiaries located in Mexico and the United States. The proceeds of the offering were used to reduce outstanding long-term debt of Alpek’s subsidiary Grupo Petrotemex and for general corporate purposes. The notes were offered for sale in the United States pursuant to Rule 144A and abroad pursuant to Reg S. The transaction closed on November 20.

Alpek, a subsidiary of Alfa, a large Mexican conglomerate, is a holding company involved in the production, marketing and sale of petrochemical products. Its products serve the food and beverage packing, textile and industrial filaments, consumer goods, automotive, construction, agriculture, and oil and pharmaceutical end markets. It is Mexico’s largest petrochemical company and the second-largest in Latin America. It has operations in Mexico, the United States and South America.