Braskem Idesa Closes Debut $900 Million International Bond Offering

December 06, 2019

New York - Paul Hastings LLP, a leading global law firm, represented Braskem Idesa, S.A.P.I., (“Braskem Idesa”), the largest polyethylene producer in Mexico and a subsidiary of Braskem S.A. (“Braskem”), one of the largest petrochemical companies in the world, in an international offering of Senior Secured Notes. The over-subscribed offering involved the issuance of US$900 million of 7.450% Senior Secured Notes due 2029 pursuant to Rule 144A and Regulation S, which closed on or about December 2, 2019. The joint book-runners were Citigroup, Santander and SMBC. The issuer intends to use the net proceeds from the offering to partially refinance its existing secured project finance debt incurred in 2012 to construct Braskem Idesa’s Etileno XXI petrochemical complex in Nanchital, Veracruz, Mexico. The offering is Braskem Idesa’s debut international bond issuance.

Paul Hastings has also represented Braskem, a company subject to the reporting requirements of the U.S. Securities Exchange Act of 1934, and Braskem Idesa in other matters.

Latin America and Corporate Finance practice partner Cathleen McLaughlin led the Paul Hastings team, which also included associates Alex Herman, Melissa Garcia, Inho Ko, and law clerks Armani Abreu and Anna Barbosa.

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