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Harneys advises SABMiller/Bavaria on Cayman bond listing

31 March 2011

A team of Harneys lawyers from the firm’s Cayman and London offices advised SAB Miller plc and its subsidiary Bavaria S.A. on  Bavaria S.A.'s  listing of US$1.325 billion in corporate bond securities on the Cayman Islands Stock Exchange.

The listing was the first of its kind by a Latin American company and is considered a significant milestone for the CSX. Bavaria S.A. is a leading producer of beer and other beverages in Colombia. Bonds and commercial paper issued under the programme were admitted to the official list of the Cayman Islands Stock Exchange and to trading in the secondary market of the Colombian Stock Exchange (Bolsa de Valores de Colombia).

Correval S.A. acted in Colombia as local structuring and placement agent and Bank of America Merrill Lynch acted as international structuring agent and financial advisor to SABMiller plc. Deceval acted as information agent and exchange agent.

The Harneys team included partner Marco Martins and associate Fiona Chandler.