FEMSA in $300 Million Notes Reopening

Cleary Gottlieb represented Fomento Económico Mexicano S.A.B. de C.V. (FEMSA) in the $300 million reopening of its 3.5% senior notes due 2050.

The offering was an SEC-registered takedown, and the notes will be listed on the New York Stock Exchange.

This is FEMSA’s first reopening of the 3.5% senior notes due 2050, resulting in a total aggregate principal amount outstanding of $1.8 billion in this series.

BofA Securities Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC acted as underwriters for the transaction. The transaction priced on February 7, 2020, and closed on February 12, 2020.

FEMSA is a leading Mexican company that participates in the beverage industry through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world; in the retail industry through FEMSA Comercio, operating OXXO, the largest- and fastest-growing chain of small-format stores in Latin America; and in the beer industry, as a shareholder of Heineken, one of the world’s leading brewers with operations in over 70 countries.