Harneys advises on Central America Bottling Corporation's US$500 million notes offering

Harneys advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, the initial purchasers in a Rule 144A and Regulation S offering by The Central America Bottling Corporation (CAB) of US$500 million 5.75 per cent senior guaranteed notes maturing in 2027 (Notes). The Notes were sold in the international markets and part of the proceeds were used by CAB to repurchase and redeem all of the outstanding US$300 million 6.75 per cent bonds due 2022 issued by it in 2012 and 2013.   

CAB is a multinational corporation that produces, markets and supplies beverages including brands owned by PepsiCo and AmBev, as well as its proprietary brands such as LivSmart. It operates in Central America, the Caribbean, and South America, and has the largest portfolio of products in the region, including bottled drinking water, carbonated soft drinks, beer, sports drinks, energy drinks, juices, nectars and tea.  

Harneys partner Tanya Cassie-Parker advised on BVI law aspects of the transaction, which closed on 31 January 2017 and was five times oversubscribed.