April 27, 2021
Mexican tortilla and corn flour producer Gruma plans to issue MXN2 billion ($101 million) in local bonds to pay off a bank loan that comes due in September this year, according to a report from S&P Global Ratings.
Gruma plans to price the seven-year unsecured notes with a fixed rate but without a guarantee, S&P said in the report. S&P gave the bonds an mxAA+ rating on the local scale, in line with the company's corporate ratings, it said.
Gruma's business held up well during the COVI
Mexican tortilla maker plans to raise $101 mln to pay off a loan that comes due in September this year