Paul Hastings Represents Gruma, S.A.B. de C.V. in US$400 Million Senior Notes Offering

November 26, 2014

New York, NY – Paul Hastings LLP, a leading global law firm, represented Gruma, S.A.B. de C.V., the world's largest tortilla and corn flour producer in its US$400 million international bond offering and the redemption of likely the only corporate perpetual bond ever issued in Mexico. The offering involved the issuance of US$400 million of 4.875% Senior Notes due 2024. The proceeds from the sale of the notes will go principally to redeem the perpetual bonds issued ten years ago at an interest rate of 7.75%. The notes were issued pursuant to Rule 144A and Regulation S in a more than seven times oversubscribed offering. The managing underwriters involved were Goldman, Sachs & Co. and Santander Investment Securities Inc.

Latin America practice partners Mike Fitzgerald and Arturo Carrillo led the Paul Hastings team, which also included associates Veronica Rodriguez and Eduardo Gonzalez and foreign associate Analuz Sanchez Mejorada Raab.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.