Grupo Bimbo Disposed Sum as Preventive Measure for Coronavirus Crisis
Grupo Bimbo has disposed USD720m of its committed revolving credit facility, which has a total value of USD2bn. The disposed credit line has a maturity on October 7, 2023.
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The resources will be used to refinance the remaining USD200m of the 2020 notes maturing in June, while the remainder will be used for increasing the company’s liquidity, prioritizing flexibility and financial strength as a preventive measure due to the current environment.
With this, Grupo Bimbo currently has USD1.3bn available in its committed credit facility for future disposals.