Gruma Replaces Acquisition Financing

Gruma Replaces Acquisition Financing

Mexico Loans

Gruma has signed $400m in new loans to replace acquisition financing taken out last year, it says. A 5-year, $220m syndicated credit facility pays Libor plus 150bp-300bp, based on a leverage ratio. Rabobank served as the administrative agent, with participation from BBVA Bancomer and Bank of America. The second is a 5-year syndicated credit facility for MXP2.3bn ($178m) via administrative agent Inbursa, with participation from Bancomext and HSBC. It amortizes beginning in December 2014, and has

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