Cleary Gottlieb represented Coca-Cola FEMSA S.A.B. de C.V. (Coca-Cola FEMSA) in an SEC-registered offering of $705 million 1.85% senior notes due 2032, the largest green bond offering to date for a Latin American corporation.
The notes offering priced on August 26, 2020, and is expected to close on September 1, 2020. The proceeds of the offering will be used to finance and refinance Coca-Cola FEMSA’s eligible green projects as part of its carbon footprint reduction strategy, including investments and expenditures related to mitigation of climate change risks, efficient use of water resources and hydrological safety, and waste management and recycling of PET plastic bottles.
BofA, J.P. Morgan, and Morgan Stanley acted as underwriters for the notes offering.
Coca-Cola FEMSA is the world’s largest bottler of Coca-Cola products by volume and produces and distributes Coca-Cola’s beverage products in several jurisdictions throughout Latin America.