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Sunday, February 28, 2021

PARENT COMPANY OF MRS. BAIRD’S PRICES $600 MILLION IN SENIOR UNSECURED NOTES

Grupo Bimbo, S.A.B. de C.V. (BMV: BIMBO) announced Sept. 5 that it has priced its offering of $600 million aggregate principal amount of 4.0% notes, due 2049. The company will use the proceeds from this offering to redeem a portion of its outstanding 4.875% notes due in June 2020, the Mexico City-based company said in a news release.

Grupo Bimbo is the largest baking company in the world and has 198 plants and more than 1,700 sales centers in 32 countries throughout the Americas, Europe, Asia and Africa.

Among its properties is Fort Worth-based Mrs. Baird’s. Mrs. Baird’s was founded in 1908 and was family-owned and -operated until Grupo Bimbo acquired the company in 1998.

“This transaction supports our long-term vision and strategy to continue to enhance our global leadership, while enhancing our financial profile by increasing our average tenor from 10.1 to13.6 years and maintaining a healthy and flexible balance sheet,” said Diego Gaxiola, CFO of Grupo Bimbo.

The transaction was rated Baa2/BBB/BBB by Moody’s, S&P and Fitch.

BBVA, Citi, J.P. Morgan, Morgan Stanley and MUFG acted as joint bookrunners for this transaction and ING was co-manager.

Its shares trade on the Mexican Stock Exchange (BMV) under the ticker symbol BIMBO, and in the over-the-counter market in the United States with a Level 1 ADR, under the ticker symbol BMBOY.

www.grupobimbo.com

– FWBP Staff

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