Bimbo sells bonds to refinance loans

by Eric Schroeder
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MEXICO CITY — Grupo Bimbo S.A.B. de C.V. said it has placed 10 billion pesos ($732 million) in the local debt market to refinance existing loans, including the bridge loan obtained for its January 2009 acquisition of the U.S. fresh bakery business of Weston Foods, Inc. The public offering consisted of three issuances, including 5 billion pesos of five-year floating-rate debt; 2 billion pesos of seven-year fixed-rate debt; and 3 billion pesos of seven-year inflation-indexed notes.

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