Mexichem $1 Billion Notes Offering

Davis Polk advised the initial purchasers in connection with the offering of $500 million aggregate principal amount of 4.000% notes due 2027 and $500 million aggregate principal amount of 5.500% notes due 2048. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S. Mexichem intends to use the net proceeds from the notes offering to fund its proposed acquisition of Netafim, a company based in Israel that specializes in smart irrigation systems.

Headquartered in Mexico City, Mexichem is one of the largest chemical companies in Latin America and a leader in plastic pipes and solutions in Europe. It produces a diverse portfolio of chemical products in 120 plants located throughout Latin America, the United States, Canada, Japan, Taiwan, China and Europe and has clients in approximately 50 countries.

The Davis Polk corporate team included partner Manuel Garciadiaz, counsel Drew Glover and associates Joshua S. Sills and Dorothy A. Jenke Hill. The tax team included counsel Alon Gurfinkel and associate Veronica Orecharova. Members of the Davis Polk team are based in the New York, Northern California and London offices.