Cleary Gottlieb represented Orbia Advance Corporation S.A.B. de C.V. (Orbia) in its abbreviated five-day cash tender offer for any and all of its outstanding 4.875% senior notes due 2022.
Approximately $328 million aggregate principal amount of 2022 notes were tendered and accepted for purchase in the tender offer. BBVA Securities Inc. and Morgan Stanley & Co. LLC acted as dealer managers. The tender offer for the 2022 notes launched on May 17, 2021, expired on May 21, 2021, and settled on May 26, 2021.
The tender offer was funded with the proceeds of an offering by Orbia of two series of sustainability-linked bonds in the international capital markets for a total principal amount of $1.1 billion. Cleary also represented Orbia in that capital markets offering.
Orbia is a leading provider of products and solutions in multiple sectors, including construction, infrastructure, agriculture, health, transportation, telecommunications, energy, and chemicals, and is one of the world’s largest plastic pipes and fittings suppliers.