Grupo Bimbo B de C : Prepays Us$400 Million Of Its Committed Revolving Credit Facility
June 18, 2020 at 10:37 am
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GRUPO BIMBO
PREPAYS US$400 MILLION OF ITS COMMITTED REVOLVING
CREDIT FACILITY
MEXICO CITY, JUNE 18, 2020
Grupo Bimbo S.A.B. de C.V. ("Grupo Bimbo" or the "Company") prepaid US$400 million of its committed revolving credit facility, maturing on October 7th, 2023.
On March 25, 2020 the Company announced the disposal of US$720 million of its committed revolving credit facility, from which US$200 million will be used to refinance the 2020 notes maturing in June, while the balance was aimed at increasing liquidity, prioritizing flexibility and financial strength as a preventive measure due to the uncertain environment. However, due to the strong results and solid cash flow generation, coupled with a less uncertain environment, Grupo Bimbo decided to prepay US$400 million of its outstanding debt.
With this, Grupo Bimbo currently has approximately US$1.7 billion available in its credit facility.
ABOUT GRUPO BIMBO
Grupo Bimbo is the largest and leading baking Company in the world and a relevant participant in snacks. Grupo Bimbo has 197 plants and more than 1,700 sales centers strategically located in 33 countries throughout the Americas, Europe, Asia and Africa. Its main product lines include fresh and frozen sliced bread, buns, cookies, snack cakes, English muffins, bagels, pre-packaged foods, tortillas, salted snacks and confectionery products, among others. Grupo Bimbo produces over 13,000 products and has one of the largest direct distribution networks in the world, with more than 2.9 million points of sale, around 57,000 routes and more than 134,000 associates. 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.
INVESTOR RELATIONS CONTACTwww.grupobimbo.com
ir@grupobimbo.com(5255) 5268 6830
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Grupo Bimbo SAB de CV published this content on 18 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2020 14:36:01 UTC
Grupo Bimbo SAB de CV is a Mexico-based company engaged in the food processing sector. The Company focuses on the manufacture, distribution and sale of bread, breakfast bread muffins and bagels, frozen bread, cakes and smaller cakes, sweet and non-sweet cookies, tortillas, pita bread, pizza bread, tostadas and tortillas, snacks, salads and candies, among others. Its segments comprise Mexico; North America, including the United States and Canada; Organization Latinamerica (OLA), including Central and South America, and Europe. The Company operates in over 20 countries and has approximately 100 brands. The Company offers over 10,000 products under various brand names, such as Bimbo, Barcel, Sara Lee, Oroweat, Marinela, Arnold, Entenmann's, Ricolino, Dempster' and Thomas'. It operates through Groupe Adghal.