Cleary Gottlieb represented BNP Paribas, J.P. Morgan and Morgan Stanley as initial purchasers in the global bond offering by Nemak, S.A.B de C.V.
The transaction consisted of an offering of $500 million 4.750 percent senior notes due 2025 pursuant to Rule 144A and Regulation S. The offering was the first high-yield debt issuance by a Mexican corporation in 2018.
The transaction priced on January 11, 2018, and is expected to close on January 23, 2018.
Nemak is a leading global provider of innovative lightweighting solutions for the global automotive industry in terms of revenue and production capacity, specializing in the development and manufacturing of high-tech, complex aluminum components for powertrain, body and structure applications, and electric vehicle components.