Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) headquartered in Monterrey (Mexico) and listed on the Mexican and New York stock exchanges successfully places CHF 300 million senior unsecured bonds in the Swiss bond market.
Niederer Kraft Frey advised FEMSA on the issue and placement of CHF 300 million in 5-year senior unsecured bonds. The bonds will bear interest at an annual rate of 107 basis points over the relevant benchmark rate, for a yield of 1.73%.
FEMSA is a leading retail and beverage company, which operates the largest convenience store chain in Mexico and Latin America and controls the largest franchise bottler of Coca-Cola products in the world in terms of sales volume (Coca-Cola FEMSA).
The proceeds from this issuance will be used for general corporate purposes, improving FEMSA’s cost of debt and increasing its financial flexibility under extremely favorable conditions.
The NKF team was led by Transactions partner Philippe Weber, working with associate Manuel Hirlinger and junior associate Luca Degiorgi (both Transactions).