Industrias Bachoco, S.A. de C.V, a producer and processor of poultry and other food products in Mexico, said Friday that it has successfully issued bonds for MXN1,500,000,000 through the public issuance of local bonds in the local debt capital markets for a tenor of 5 years, maturing in 2022. This is Bachoco’s second issuance and it was distributed among a wide range of local investors.
The bonds issued by Bachoco will have interest rate of 28-day TIIE and will offer investors yields of TIIE + 0.31%. The principal of the bonds will be amortized at face value, in one payment, on the date of maturity. The resources obtained from the local bond issuance will be utilized in accordance with the company’s financial requirements. Part of the resources will be used for the payment of the principal of the first issuance.