Gruma refinances with $125 million long-term credit facility

By William Gullotti

Buffalo, N.Y., Sept. 28 – Gruma SAB de CV announced it obtained a $125 million five-year credit facility via Bank of Nova Scotia on Tuesday, according to a press release.

Facility borrowings will bear interest at SOFR plus 100 basis points. The entire amount will be payable in full at maturity, with no amortization.

According to the release, proceeds from the facility will be used to refinance several existing liabilities.

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

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