Gruma lines up fresh financing

Gruma lines up fresh financing

Loans Mexico

Gruma, a Mexican tortilla and corn flour producer, said it obtained a line of credit for $100 million from Rabobank and Bank of America. The five-year loan will carry interest rate based on the secured overnight financing rate (SOFR) plus 105 basis points and a 10-point adjustment, according to a securities filing. The company said the credit line will be used for general corporate purposes, though it will not draw down the facility initially. “This line of credit allows Gruma to have an alterna

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