Inaugural Global Bond Offering by Liverpool

October 2, 2014

Cleary Gottlieb represented Merrill Lynch and Citigroup as initial purchasers in the inaugural investment grade global bond offering by El Puerto de Liverpool. The transaction consisted of an offering of $300 million 3.950% senior notes due 2024. The proceeds of the offering were used for general corporate purposes, including to repay existing indebtedness and finance capital expenditures. The bond offering was conducted as a private placement under Rule 144A of the Securities Act and outside of the Unites States in reliance on Regulation S. The transaction priced on September 25, 2014 and closed on October 2, 2014.

Liverpool is the largest department store chain in Mexico in terms of number of stores and sales. It was established in 1847 and currently operates 104 department stores nationwide. Liverpool also owns or has a significant interest in 22 shopping centers in 16 cities in Mexico and is the leading non-bank credit card issuer in Mexico, with approximately 3.5 million credit card holders.