Grupo Bimbo to Tap Bond Market With 5 Billion-Peso Sale Today
Bimbo seeks to sell fixed-rate bonds maturing in August 2018, the company said in a stock-exchange filing yesterday. The Mexico City-based company had originally filed on Jan. 4 to sell as much as 7.5 billion pesos in fixed-rate and floating-rate bonds.
On Jan. 18, Bimbo sold $800 million of notes maturing in 2022, with a coupon of 4.50 percent. The funds raised from the sale will be used to finance corporate debt and general corporate expenses, Bimbo said at the time.
The last time the breadmaker sold bonds in Mexican pesos was in June 2009, issuing 10 billion pesos of floating-rate, fixed-rate and inflation-linked securities. The transaction was followed by the sale of $800 million of 10-year dollar bonds in June 2010, marking its first international issue.
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