Vitro has decided to anticipate a payment to BBVA Bancomer
Vitro has announced that it will be making an advance payment of principal to the Credit Agreement for USD 60 million dollars plus the interest accrued on this sum.
Vitro, S.A.B. de C.V. (Vitro), a leading glass producer in North America, has notified BBVA Bancomer the intention to make an advance payment of principal to the Credit Agreement for USD 60 million plus the interest accrued on this sum to the debt of USD 230 million issued by Vitro with this financial institution on 18 December 2016.
Referring to this advance payment, Adrián Sada Cueva, CEO of Vitro stated, “The decision to anticipate this payment was made with the objective of significantly strengthening the financial structure and improve the Company’s balance sheet, which was possible thanks to the efficient management of cash flow.”
Claudio Del Valle, CFO of Vitro, stated: “This operation confirms our commitment to maintain a healthy financial position while decreasing our leverage and improving our debt profile. It is important to mention that this advance payment is being made without interrupting our investment plans.”