MEXICO CITY — Grupo Bimbo S.A.B. de C.V. has prepaid $300 million toward its $600 million revolver facility due July 2010. Following the prepayment, Grupo Bimbo said its debt will total NP37 billion ($2.87 billion) with a total debt to EBITDA ratio of 2.5 times.
"We are very pleased that our operations continue to generate healthy and strong free cash flow, particularly following the expansion of our U.S. business," said Guillermo Quiroz, chief financial officer. "This enables us to fulfill our commitment of maintaining a healthy credit profile while sustaining sufficient flexibility in our balance sheet. As we outlined earlier in the year following our acquisition in the United States, we remain focused on disciplined execution and strict cash management."
Grupo Bimbo completed its acquisition of the U.S. fresh bakery business of Weston Foods, Inc. in January of 2009.