Cleary assists BBVA in $275m sustainability-linked credit to Grupo Bimbo
Cleary Gottlieb has assisted BBVA Mexico, as lender, in an approximately $275 million ($5 billion pesos) Mexican peso-denominated revolving credit facility granted to Grupo Bimbo.
The facility, signed and closed on 13 April, is guaranteed by Bimbo Bakeries USA, Bimbo and Barcel. The sustainability features of the loan incentivise the borrower to meet specific environmental sustainability targets in exchange for reduced interest rates.
Grupo Bimbo is a multinational company listed on the Mexican stock exchange that produces and distributes bakery and snack products. Grupo Bimbo is headquartered in Mexico City and employs around 137,000 people worldwide.
Cleary’s corporate team included partners Jorge Juantorena (pictured left) and Manuel Silva (pictured right), associate Stephanie Monroe Rohlfs, and international lawyers Samantha Maasberg Lopez and Lucila Dorado. Counsel Matt Brigham and associate Joseph Roy advised on tax matters. All lawyers are based in New York, except Joseph Roy who is based in San Francisco.
