Shearman & Sterling represented Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as placement agents and sustainability-linked structuring agents in a Rule 144A and Regulation S offering by The Central America Bottling Corporation (CBC), CBC Bottling Holdco, S.L. and Beliv Holdco S.L. of $1.1 billion aggregate principal amount of 5.250% senior guaranteed sustainability-linked notes due 2029 and as dealer managers and solicitation agents on an offer to purchase and solicitation of consents from holders of CBC’s outstanding 5.750% senior guaranteed notes due 2027. The co-issuers will use the proceeds from the notes offering to purchase the 2027 notes tendered pursuant to the Tender Offer (and pay related expenses thereunder), to redeem any 2027 notes not tendered, to refinance other existing indebtedness and for general corporate purposes, including potential acquisitions.
CBC produces, distributes and markets beverage products that include brands owned by PepsiCo and AmBev, and proprietary brands, including its wellness brand LivSmart. Its products include carbonated soft drinks, bottled drinking water, sports drinks, energy drinks, juices, nectars, tea and beer. Its operating region is comprised, principally, of Guatemala, southern Honduras, Nicaragua, El Salvador, Puerto Rico, Jamaica, Ecuador, Peru and Argentina.
The Shearman & Sterling team below included associate Nicolas Usandivaras (New York-Capital Markets) and visiting attorney Sebastian de la Puente (New York-Capital Markets).