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Mexico breadmaker Bimbo places 10 bln peso debt

Wed Jun 10, 2009 10:26pm EDT

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MEXICO CITY, June 10 (Reuters) - Mexican bread maker Bimbo said on Wednesday it placed 10 billion pesos ($736 million) in debt to refinance existing loans.

Bimbo (BIMBOA.MX) said it issued 5 billion pesos of five-year floating-rate debt.

It also placed 2 billion pesos of seven-year fixed-rate debt and 3 billion pesos of seven-year inflation-indexed notes.

Bimbo in January acquired the U.S. breadmaking unit of Canada's George Weston Ltd (WN.TO) for $2.38 billion.

Bimbo said in a press release that some of the proceeds from its debt placement would be used to refinance a bridge loan obtained for that acquisition. ($1 = 13.59 pesos) (Reporting by Noel Randewich; Editing by Lincoln Feast)



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