Vitro, S.A.B. of C.V. informs that its debt refinancing process has been completed by the two prepayments of its debt contracted with Inbursa of USD 500 million and BBVA Bancomer USD 170 million.
These prepayments were made through the syndicated loan announced in July of USD 700 million where BBVA Bancomer, S.A., Institución de Banca Múltiple; Grupo Financiero BBVA Bancomer (“BBVA”); HSBC México S.A., Multiple Banking Institution; and Grupo Financiero HSBC (“HSBC”), acted as Joint Lead Arrangers and Joint Bookrunners. The remaining resources of the syndicated loan will be used for lease prepayments and administrative expenses.
Claudio Del Valle Cabello, CFO commented: “Through this debt restructuring, the Company endorse its commitment with its stakeholders to maintain a healthy financial situation.”
Vitro, S.A.B. de C.V. (BMV: VITROA) is the leading glass manufacturer in Mexico and one of the world’s major companies in its industry, backed by more than 100 years of experience. Founded in 1909 in Monterrey, Mexico, the Company has subsidiaries in the Americas, offering quality products and reliable services to meet the needs of two businesses: glass containers and flat glass. Companies of Vitro produce, process, distribute, and market a wide range of glass articles, which are part of the daily life of thousands of people. Vitro offers solutions for multiple markets, including cosmetic, pharmaceutical and toiletries, as well as architectural and automotive. The Company is also a supplier of chemical products and raw material, machinery, moulds and equipment for industrial use. As a socially responsible organization, Vitro works on several initiatives aligned to its Sustainability Model, aiming to create a positive influence in the economic, social, and environmental aspects relevant to its stakeholders, in a responsible corporate management framework.