Mexico's Gruma to issue $250 million in senior perpetual bonds via Merrill Lynch

By Reshmi Basu

New York, Nov. 18 - Gruma SA de CV will issue $250 million in perpetual bonds (BBB-/-/BBB-) during the week of Nov. 29, according to a market source.

The bonds are non-callable for five years and thereafter at par.

Merrill Lynch is running the Rule 144A/Regulation S offering.

Proceeds will be used to refinance debt and for general corporate purposes.

Gruma said it reserves the right to repurchase the notes after a certain period.

Gruma, based in Monterrey, is involved in the production, marketing, distribution, and sale of corn flour, packaged tortillas, and wheat flour.

© 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.