Cleary on $1.93bn revolving credit facility of Grupo Bimbo
Cleary Gottlieb has assisted the lenders in Grupo Bimbo’s approximately $1.93 billion multi-currency sustainability-linked revolving credit facility.
The credit facility’s sustainability features incentivise the borrower to meet specific environmental sustainability goals in exchange for reduced interest rates. Among other things, the amendment extended the maturity of the multi-currency revolving credit facility and provided for further modifications to the sustainability features in the future.
The new credit facility was granted by BBVA Mexico, Institución de Banca Múltiple, Grupo Financiero BBVA Mexico, Banco Santander, Bank of America, Citibank, Coöperatieve Rabobank (New York Branch), HSBC Mexico, Institución de Banca Múltiple, Grupo Financiero HSBC, JPMorgan Chase Bank, ING Bank (Dublin Branch), JPMorgan Chase Bank, Mizuho Bank, MUFG Bank, and Morgan Stanley Bank.
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 approximately 137,000 people worldwide.
Cleary’s corporate team included partner Jorge Juantorena (pictured), associate Stephanie Monroe Rohlfs and international lawyers Samantha Maasberg Lopez and Lucila Dorado. Counsel Matthew Brigham and associate Joseph Roy advised on tax matters. Senior counsel Jim Corsiglia advised on anti-corruption and sanctions matters. All of the lawyers are based in New York, except for Joseph Roy, who is based in San Francisco.
