We advised the lead arrangers and sustainability structuring agents on the facility

Davis Polk advised the joint lead arrangers and bookrunners, the administrative agent, the documentation agent and the sustainability structuring agents in connection with a $1.75 billion sustainability-linked multicurrency revolving credit facility for Grupo Bimbo, S.A.B. de C.V. and Bimbo Bakeries USA, Inc., as initial borrowers. The facility is Grupo Bimbo’s first sustainability-linked financing, focused on energy and water. The financing was a bellwether for ESG-related loan agreements in the Mexican market, with sustainability-pricing-linked pricing that set a precedent for marquee companies in the region.

Headquartered in Mexico City, Grupo Bimbo is the world’s largest baking company and has over 133,000 associates located in more than 33 countries throughout the Americas, Europe, Asia and Africa.

The Davis Polk finance team included partner James A. Florack and counsel James Vickers. The tax team included counsel Alon Gurfinkel and associate Ben Levenback. Members of the Davis Polk team are based in the New York, São Paulo and London offices.