Braskem Idesa Issues US$1.2 Billion of Sustainability-Linked Bonds

New York – Paul Hastings LLP, a leading global law firm, represented Braskem Idesa, the largest polyethylene producer in Mexico, in a $1.2 billion high-yield offering of 144A/Reg S 6.990% senior secured notes due 2032.

The sustainability-linked bonds are tied to Braskem Idesa’s goal to reduce its greenhouse gas emissions by 15% by the end of 2028.

The transaction closed on October 20, 2021. Braskem Idesa also simultaneously borrowed U$150 million under a new credit facility. The proceeds of the bond and loan transactions were used to refinance all of Braskem Idesa’s existing project finance indebtedness incurred to construct Braskem Idesa’s Etileno XXI petrochemical complex in Nanchital, Veracruz, Mexico, in order to provide more flexibility for future expansion of Braskem Idesa’s operations.

Latin America and Corporate Finance practice partner Cathleen McLaughlin led the Paul Hastings team, which also included associates Alex Herman, Juan Martin Estrada, Anna Barbosa, and Christine Geils.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.