Grupo Bimbo prepays $400 million of revolving credit facility

By Rebecca Melvin

New York, June 19 – Grupo Bimbo SAB de CV prepaid $400 million of its committed revolving credit facility that matures on Oct. 7, 2023, according to a company release on Friday.

On March 25, the company announced the disposal of $720 million of its committed revolver, from which $200 million was to be used to refinance its notes maturing this month, while the balance was aimed at increasing liquidity, prioritizing flexibility and financial strength as a preventive measure due to the uncertain environment.

However, do the strong results and solid cash flow generation Grupo Bimbo decided to make the prepayment of its outstanding debt.

With this, Grupo Bimbo currently has about $1.7 billion available in its credit facility.

Grupo Bimbo is a Mexico City-based bakery and food company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.