Cleary Gottlieb represented GCC S.A.B. de C.V. (GCC) in a senior unsecured sustainability-linked notes offering.
The Rule 144A/Regulation S offering, which consisted of $500 million 3.614% senior notes due 2032, priced on January 10, 2022, and closed on January 20, 2022. GCC used the proceeds of the offering to redeem the entire aggregate principal amount of its 5.25% senior secured notes due 2024; to repay, in full or in part, outstanding indebtedness under the term loan facility; and the remainder, if any, for general corporate purposes.
BBVA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. acted as joint bookrunners; Credit Agricole Securities (USA) Inc. acted as co-manager; and J.P. Morgan acted as the sustainability-linked bond structuring agent for the offering.
GCC is a leading producer of cement, ready-mixed concrete, aggregates, and innovative solutions for the construction industry with operations in the U.S., Mexico, and Canada. Founded in 1941, GCC’s shares trade on the Mexican Stock Exchange under the ticker symbol GCC*.