Chicago, May 31 – Grupo Bimbo SAB de CV priced a two-tranche offering for Ps. 15 billion of sustainability-linked bonds, according to a press release.
The first tranche priced as Ps. 3 billion of three-year bonds that will have interest at 28-day TIIE plus 10 basis points.
The larger Ps. 12 billion tranche priced with a 9.24% fixed rate and a 10-year tenor.
BBVA, HSBC and Santander were the joint bookrunners.
Proceeds will be used to repay bank debt, to continue to strengthen the company’s financial flexibility.
Grupo Bimbo is a Mexico City-based bakery and food company.
| Issuer: | Grupo Bimbo SAB de CV
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| Amount: | Ps. 15 billion
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| Issue: | Sustainability-linked bonds
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| Bookrunners: | BBVA, HSBC and Santander
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| Green assessor: | Sustainalytics
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| Announcement date: | May 31
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| Floaters
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| Amount: | Ps. 3 billion
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| Tenor: | Three years
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| Coupon: | 28-day TIIE plus 10 bps
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| Fixed-rate bonds
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| Amount: | Ps. 12 billion
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| Tenor: | 10 years
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| Coupon: | 9.24%
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