Gruma, S.A.B. de C.V. Obtains USD 125 Million Long Term Credit Facility to Refinance Existing Liabilities
September 28, 2022 at 02:15 am EDT
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Gruma, S.A.B. de C.V. announced that it obtained a USD 125 million credit facility, which will be used to refinance several existing liabilities. The USD 125 million credit facility was granted by The Bank of Nova Scotia for a 5-year term, at an interest rate of SOFR plus a spread of 100 basis points and is payable in a single exhibition at maturity. This refinancing allows GRUMA to reduce the cost of its debt, as well as to improve its maturity profile.
Gruma, S.A.B. de C.V. is a Mexico-based food holding company. The Company is engaged in corn and flour tortilla production across the world. The Company produces wheat flour and its derivatives, such as flatbreads, wraps, chapatti, and pizza bases plus other food products. Its segments include: Corn flour and packaged tortilla division, which manufactures and distributes approximately 20 varieties of corn flour that are used mainly to produce and distribute different types of tortillas and tortilla chip products in the United States; Corn flour division, which engages principally in the production, distribution and sale of corn flour in Mexico under MASECA brand; and Other segments, which focuses on corn flour, hearts of palm, rice and other products. The Company has operations in the Americas, Europe, Asia and Oceania.
GRUMA, S.A.B. DE C.V. 
