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Mexican breadmaker Bimbo issues bonds for $730 mln

BY Reuters | CORPORATE | 02/12/25 04:54 PM EST

MEXICO CITY, Feb 12 (Reuters) - Mexican breadmaker Grupo Bimbo on Wednesday announced a bond issuance on the local market for 15 billion pesos ($730 million), in two series maturing in three and seven years.

Bimbo said it would use the proceeds from the debt offering, which was met with a demand of some 22 billion pesos, for regular operations including investments, working capital and refinancing of liabilities.

"With this issuance, we strengthen our financial position, which will allow us to continue advancing with our expansion strategy," finance chief Diego Gaxiola said in a statement. ($1 = 20.5384 Mexican pesos) (Reporting by Sarah Morland)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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