The issuance included two series: the first series of approx. $680 million dollars, with a 10- year maturity and a 9.24% annual fixed rate; the second series of approx.
The Company will use the proceeds from this offering primarily to repay bank debt, to continue strengthening its financial flexibility.
The bonds are linked to Sustainability Performance Targets aligned to the net zero-carbon emission strategy of Scope 3, which accounts approximately for 90% of Grupo Bimbo's carbon footprint. The Company obtained a second- party opinion (SPO), who rated the Sustainability Performance Targets of this issuance as material and relevant, according to market standards.
"We tapped the Mexican market once again, this time through our first ESG- labelled bond, ranking the fifth SLB for Scope 3 globally and the first in Latin America, in line with our ambitious global long-term sustainability strategy. This transaction strengthens our financial position while reaffirming our sustainability commitments, specifically our undertaking to become a net zero-carbon Company by 2050", said Diego Gaxiola, CFO of Grupo Bimbo.
The Sustainability Linked Bond Framework is available at: https://www.grupobimbo.com/en/sustainable-financing-framework.
Grupo Bimbo once again recognizes and acknowledges the support of investors and BBVA, HSBC and Santander, the financial institutions that acted as joint bookrunners.
ABOUT GRUPO BIMBO
Grupo Bimbo is the leader and largest baking Company in the world and a relevant participant in snacks. Grupo Bimbo has 215 bakeries and plants and more than 1,600 sales centers strategically located in 34 countries throughout the
Contact: ir@grupobimbo.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/grupo-bimbo-announces-the-successful-issuance-of-approximately-850-million-dollars-in-sustainability-linked-local-bonds-301839415.html
SOURCE Grupo Bimbo
© Canada Newswire, source