Hogan Lovells advised The Central America Bottling Corporation on the $500 million issuance. Shearman & Sterling acted for the initial purchasers.
The Central America Bottling Corporation is a Guatemala-headquartered beverage distributor with operations in Central and South America, and the Caribbean. It is a subsidiary of Pepsico and it distributes its own brands and from other strategic partners such as Ambev.
The notes were issued under Rule 144A/Regulation S and are due 2027. The proceeds will be used to repurchase and redeem all of the outstanding $300 million 6.75% bonds due 2022 issued in 2012 and 2013. The transaction, which was five times oversubscribed, closed on January 31, 2017.
Citigroup Global Markets and JP Morgan Securities acted as initial purchasers. The banks instructed a team at Shearman & Sterling led by partner Antonia Stolper. Miranda & Amado advised the banks on Peruvian law aspects of the deal, with partner Juan Luis Avendaño fronting that team in Lima.
The Central America Bottling Corporation instructed Hogan Lovells lawyers in New York and Miami. Partners Oscar Stephens and Jose Valdivia were at the helm.