BBVA leads the successful issuance of USD800 million in senior notes for GRUMA

BBVA Mexico participated as Joint Bookrunner in the successful issuance of USD800 million in senior unsecured notes for GRUMA, S.A.B. de C.V. (GRUMA), a world leader in the production of corn flour and tortillas.

The transaction was structured in two tranches:

• USD500 million with a coupon of 5.39%, coming due in 2034.
• USD300 million with a coupon of 5.761% coming due in 2054.

The proceeds will be used by GRUMA to refinance existing bank debt payable between 2025 and 2027, improving its maturity profile and strengthening its financial position. The remainder will be used for general corporate purposes.

The issuance was oversubscribed by 9 times the amount offered, reflecting international investors’ confidence in GRUMA's financial strength and business model. The notes were rated BBB by S&P Global and BBB+ by Fitch Ratings.

Founded in 1949, GRUMA is the world's leading producer of corn flour, tortillas, and corn flour derivatives. With a presence in more than 100 countries and operations in the Americas, Europe, Asia, and Oceania, GRUMA is recognized for its iconic brands such as MASECA and Mission. Its commitment to innovation, quality and sustainability has established it as a benchmark in the global food industry.

This transaction attests to BBVA Mexico's commitment to supporting its corporate clients in their financing and market expansion strategies.

BBVA Mexico congratulates GRUMA for this achievement and appreciates the trust it has placed in us by inviting us to participate in this important transaction. We are honored to be a strategic partner of a leading Mexican company in its industry and to support its continued growth and global development.

At BBVA Mexico, we remain dedicated to offering comprehensive financial solutions tailored to our clients’ needs. Our participation in this issue reinforces our leadership in the debt market and our commitment to the country's economic development.