Bimbo Bakeries USA’s $600 Million Bond Offering

May 17, 2021

Cleary Gottlieb represented HSBC, J.P. Morgan, Mizuho, and Santander, as initial purchasers, in a global bond offering by Bimbo Bakeries USA Inc. (Bimbo Bakeries USA) of its $600 million 4% senior notes due 2051.

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 May 12, 2021, and closed on May 17, 2021.

Bimbo Bakeries USA is a wholly owned subsidiary of Grupo Bimbo S.A.B. de C.V. (Grupo Bimbo), a global consumer food company, the leader in the baking industry, and a key player in the snacks industry. Grupo Bimbo has a portfolio of more than 13,000 products spanning different categories and sold under its 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.