Lehman Brothers Recognized in Latin Finance's "Deals of the Year 2007"

January 2008
Latin Finance magazine selected Vitro's $1 billion dual tranche issue as the Best Corporate Bond in its "Deals of the Year 2007" issue.

Lehman Brothers acted as joint lead and joint bookrunning manager on the transaction which marked one of the largest emerging markets corporate high yield deals in history. The issue included $700 million of senior notes due 2017 and $300 million of senior notes due 2012. The notes offering was well received, resulting in an upsizing of the total issuance from $750 million to $1 billion.

In its January 2008 issue, Latin Finance magazine stated, "In a year chock full of corporate biggests and bests, one high yield deal stood out as the trailblazer. Mexican glassmaker Vitro's $1 billion dual tranche issue of January 2007 – briefly the biggest non-government EM and largest sub-investment grade offer in more than a decade – turned the company around and set a major trend. Rewards for both issuer and investor make the B2/B offer the LatinFinance Best Corporate Bond."