Grupo Bimbo announces tender results, settlement for 3 7/8% notes

By William Gullotti

Buffalo, N.Y., Nov. 8 – Grupo Bimbo, SAB de CV formally settled its tender offer to purchase for cash any and all of its $800 million of outstanding 3 7/8% senior notes due 2024 (Cusip: 40052VAC8, P4949BAJ3), according to a press release on Wednesday.

As previously reported, the company took in tenders totaling $389,851,000 principal amount as of the offer expiration at 5 p.m. ET on Nov. 3.

Including the notes tendered under guaranteed delivery procedures, which were due by 5 p.m. ET on Nov. 7, the amount of tendered notes accepted for purchase increased to $391,638,000.

The offer settled Wednesday, and tendering noteholders received a consideration of $990.23 per $1,000 principal amount, plus accrued interest.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) and Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057) are dealer managers for the tender offer.

D.F. King & Co., Inc. (212 269-5550 for banks and brokers or 866 342-4882 for all others; bimbo@dfking.com) is the tender agent and information agent.

The baked goods company is based in Mexico City.

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