Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo” or the “Company”) announces the successful issuance in the Mexican market of Sustainability-linked Bonds (Certificados Bursátiles) for a total amount of approx. $850 million dollars, which represents the largest corporate Sustainability-linked Bond (SLB) in the history of the Mexican market, and the largest transaction so far during the year.
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. $170 million dollars, with a 3-year maturity and an annual floating rate of 28-day TIIE +0.10%.
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.
