Mabe in $370 Million Global Bond Offering and Concurrent Tender Offer

October 25, 2018

Cleary Gottlieb represented Citigroup, J.P. Morgan, and Scotiabank as initial purchasers in the global bond offering by Controladora Mabe, SA de CV (Mabe).

The transaction consisted of an offering of $370 million 5.6% percent senior guaranteed notes due 2028 with a concurrent tender offer for up to $350 million aggregate principal amount of the 7.875% senior guaranteed notes due 2019. 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 October 18, 2018, and closed on October 23, 2018.

Mabe is a leading manufacturer and distributor of ranges, refrigerators, clothes dryers, washing machines, and laundry centers (vertical combination washing machines and dryers), commonly referred to as “white line products,” with operations throughout North, Central, and South America.