Harneys acted as BVI counsel to Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as initial purchasers in connection with The Central America Bottling Corporation’s issuance of an additional US$200 million of its 5.75 per cent Senior Guaranteed Notes due 2027. This is further to the original US$500 million note offering Harneys advised on in 2017. The net proceedings of the offering were used to refinance existing debt, fund cash on the balance sheet and for general corporate purposes, including potential acquisitions.
The Central America Bottling Corporation is a leading producer, distributor and seller of beverages and a major bottler for PepsiCo in Latin America. It has the exclusive right to sell and distribute 57 brands of PepsiCo beverage products, including Pepsi, Gatorade, 7-Up, Ocean Spray among others in Central America, the Caribbean and South America, and it has the largest portfolio of products in the region.
The Harneys team was led by Managing Partner, Tanya Cassie-Parker, with support from Associate Melissa Thomas. Harneys acted upon instructions from Shearman & Sterling.