Mexichem in $750 Million Global Bond Offering of 5.875% Senior Notes

September 17, 2014

Cleary Gottlieb represented Mexichem as issuer in its investment grade global bond offering of $750 million 5.875% Senior Notes due 2044, guaranteed by several subsidiaries of Mexichem located in Mexico, the United States, the United Kingdom, Colombia, Ecuador and Brazil. The proceeds of the offering were used to repay Mexichem’s existing indebtedness and to finance its prospective strategic acquisitions, with any remaining proceeds used for general corporate purposes. The bond offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transaction launched on September 2 and closed on September 17.

BBVA, J.P. Morgan, Morgan Stanley and Santander acted as joint bookrunners, and Casa de Bolsa BX+ acted as co-manager for the offering.

Mexichem is one of the largest chemical companies in Latin America based on average annual production capacity and net sales, and is the leader in plastic pipes and solutions in Europe. The company produces a diverse portfolio of chemical products in over 100 plants, which are strategically located in 18 countries across Latin America, the United States, Canada, Japan, Taiwan and China, and 23 European countries, such as the United Kingdom, Germany, the Netherlands, Italy, France and Poland, among others. The company sells products in over 50 countries.