Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo” or the “Company”) renewed its committed revolving credit facility (“RCF”), in the current amount of US $1.75 billion. This RCF is sustainability-linked and marks the Company’s debut in sustainable financing. This highlights Grupo Bimbo’s commitment to the preservation and improvement of the environment, including focus on two areas which are part of the Company’s sustainability journey: energy and water.
This renewal extended its maturity to 2026, providing ample flexibility and liquidity for the Company and reaffirms the many years of strong relationship between Grupo Bimbo and its bank syndicate.
“I am proud that this successful transaction perfectly aligns with our Philosophy of building a sustainable, highly productive and deeply humane Company. Over the past decade, we have benefited from having a committed revolving credit facility, providing Grupo Bimbo with liquidity and flexibility. With this sustainability-linked loan we continue to strengthen our financial profile and, given that sustainability is part of our DNA and its growing relevance in our world and business, we have renewed it and linked it to our sustainability goals," said Diego Gaxiola, CFO of Grupo Bimbo.
With the firm conviction of continuing to make its business increasingly sustainable, Grupo Bimbo recently developed an ambitious global sustainability strategy with a robust action plan focused on three main objectives: promoting health and wellbeing through plant-based diets and nutritional diversity; becoming a net zero-carbon and zero waste business, advancing regenerative agriculture; and strengthening its communities.
“Grupo Bimbo's decision to commit to achieve ambitious results in the use of renewable energy and water resources is aligned with the Company's business strategy, where sustainability plays an increasingly predominant role. At Grupo Bimbo, we believe our business model must be sustainable by design, so we are building on our accomplishments by establishing new objectives to further strengthen the recovery of the health of the planet and the well-being of people, for example our commitment of Net Zero Carbon Emissions to 2050”, said Rafael Pamias, Executive VP and Chief Sustainability Officer of Grupo Bimbo.
“The two KPI’s related to the RCF are priority axes of the sustainability strategy and our previous commitments on RE100 to consume 100% of the electricity from renewable sources by 2025 and that all the treated water will be reused”, he added.