Davis Polk advised Bank of America, N.A. as administrative agent, HSBC Securities (USA) Inc. and ING Capital LLC as documentation agents, and HSBC Securities (USA) Inc., ING Capital LLC, BBVA Securities Inc., Merrill Lynch, Pierce, Fenner & Smith, Banco Santander (México), S.A. Institución de Banca Múltiple, Grupo Financiero Santander, Citigroup Global Markets Inc. and The Bank of Tokyo-Mitsubishi UFJ, Ltd. New York Branch as joint lead arrangers in connection with a $1.3 billion unsecured term loan credit facility provided to Grupo Bimbo, S.A.B de C.V. The obligations of the borrower under the credit facility are guaranteed by certain of the borrower’s Mexican and U.S. subsidiaries. The proceeds of the credit facility will be used for general corporate purposes. 

Grupo Bimbo is one of the largest providers of baked goods in the world, encompassing over 7,000 products and 150 prestigious brands and with a presence in 17 countries in the United States, Latin America and Asia. Since 1980, Grupo Bimbo has been traded on the Mexican Stock Exchange (Bolsa Méxicana de Valores). 

The Davis Polk credit team included partner James A. Florack, counsel Norberto E. Quintana and associate Cristina del Rivero (not yet admitted). The tax team included partner Michael Farber and associates Andrew Teruo Hayashi and Aharon Illouz. Associate Ron M. Aizen provided employee benefits advice. Counsel Betty Moy Huber provided environmental advice. Jack S. Keating was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.