MEXICO CITY, Aug. 31, 2020 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma Lab" or "the Company"), one of the leading pharmaceutical and personal care product companies in Mexico with an expanding international presence, announces the successful issuance of unsecured Mexican corporate bonds (Cebures) for a total amount of Ps. 1,000,000,000.00 (one billion Mexican pesos). The transaction was oversubscribed 2.33 times and allocated among a diversified investor base.
The issuance was rated "AA(mex)" for debt in local currency by Fitch Ratings and "HR AA" by HR Ratings. The transaction details were as follows:
August 28, 2023 (1,092 days)
TIIE 28 days + 110 bps
Every 28 days
Actinver Casa de Bolsa S.A. de C.V., Casa de Bolsa BBVA Bancomer S.A. de C.V. and Casa de Bolsa Santander, S.A. de C.V. acted as joint book-runners for the issuance. CIBANCO, S.A., Institución de Banca Múltiple acted as common representative.
The proceeds will be used to refinance debt, strengthening the Company's financial debt maturity profile and further optimizing the average liabilities duration.
Antonio Zamora Galland, Chief Financial Officer, commented: "We are very pleased with the success of Genomma's successful LAB-20 placement and its relevance for the Mexican capital market, particularly in a challenging global backdrop. The successful placement is further affirmation of the market's confidence and strong interest in Genomma Lab, reflected in a high level of oversubscription and resulting interest rate."
About Genomma Lab Internacional
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing pharmaceutical and personal care products companies in Latin America. Genomma Lab develops, sells and markets a broad range of premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has a sound business model through a unique combination of a new product development, consumer oriented marketing, a broad retail distribution network and a low–cost, highly flexible supply chain model. For more information visit: www.genommalab.com
Genomma Lab's shares are listed on the Mexican Stock Exchange under the ticker "LABB" (Bloomberg: LABB:MM).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Genomma Lab Internacional, S.A.B. de C.V.