Grupo Bimbo Issues $500 Million Offering

April 17, 2018

Cleary Gottlieb represented BofA Merrill Lynch, Citigroup, HSBC, JP Morgan, Santander, and ING as initial purchasers in a global bond offering by Grupo Bimbo, S.A.B de C.V. of its $500 million 5.95 percent subordinated perpetual notes.

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 April 12, 2018, and closed on April 17, 2018.

Grupo Bimbo is a global consumer food company, the leader in the baking industry and a key player in the snacks industry. It has a portfolio of over 13,000 products spanning different categories and sold under more than 100 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.