Mexico's Gruma sets guidance for $250 million senior perpetual bonds at 7 ¾% to 8% area

By Reshmi Basu

New York, Nov. 29- Gruma SA de CV set price guidance for its planned sale of $250 million senior perpetual bonds (/BBB-/BBB-) at a yield in the area of 7¾% to 8%, 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.