Bimbo Cooks up Jumbo Peso Financing

Bimbo Cooks up Jumbo Peso Financing

M&A

Mexican bread and confectionary maker Grupo Bimbo has secured some $2.3bn in loans from a group of 6 banks to pay for its acquisition of Weston’s US bread assets. The company is understood to be seeking to raise some two thirds of the longer-dated portions of the financing in pesos, and has accordingly tapped a lending group that has peso-lending capabilities, say people familiar with the process. The deal has multiple tranches, including a $600m 1-year bridge loan heard starting at around Libor

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