Bimbo to sell bonds, hold meetings

by Josh Sosland
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MEXICO CITY — Grupo Bimbo S.A.B. de C.V. is planning to sell bonds valued at more than half a billion dollars, Bloomberg said Jan. 4, citing a filing with the Mexican Stock Exchange. Bloomberg said the sale, valued at up to 7.5 billion pesos ($547 million), is planned in two tranches of fixed and floating-rate securities, maturing in five and seven years. The sale will take place the fourth week of January and will be managed by unites of HSBC P.L.C., Group Financiero Inbursa SAB and ING Groep. Bimbo has a BBB credit rating from Standard and Poor’s. Separately, Bloomberg said Bimbo will meet with bond investors in Europe and the United States from Jan. 9 through 16 and may sell dollar-denominated bonds after the meetings.

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