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Bimbo Bakeries offers $600 million 30-year senior notes talked at Treasuries plus 190 bps area
By Rebecca Melvin and Cristal Cody
Concord, N.H., May 12 – Bimbo Bakeries USA Inc. is pricing $600 million of senior notes due May 17, 2051 (Baa2/BBB/BBB), according to market sources.
The notes will be guaranteed by Grupo Bimbo SAB de CV and Grupo Bimbo subsidiaries Bimbo SA de CV and Barcel SA de CV.
Price talk is for a yield in the Treasuries plus 190 basis points area, according to a market source.
HSBC, JPMorgan, Mizuho and Santander are bookrunners of the deal, for which proceeds will be used to repay Grupo Bimbo debt.
The issuer is the U.S. corporate arm of the Mexican multinational bakery company and based in Horsham Township, Pa.
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