Cleary Gottlieb represented BBVA, Citigroup, J.P. Morgan, Morgan Stanley, MUFG, and ING, as initial purchasers, in a global bond offering by Grupo Bimbo S.A.B de C.V. (Grupo Bimbo) of its $600 million 4% senior 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 September 3, 2019 and closed on September 6, 2019.
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 more than 13,000 products spanning different categories and sold under their 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.