Grupo Lala subsidiary raises 9,000 million pesos on BMV

Grupo Lala subsidiary Comercializadora de Lácteos y Derivados (COMLADE) has debuted in the debt market, raising 9,000 million pesos through the Bolsa Mexicana de Valores (BMV).

The placement consisted of two issuances: a 10-year bond (LALAC 26) totaling 7,280 million pesos and a 3-year bond (LALAC 26-2) totaling 1,720 million pesos. The company intends to use the funds to refinance liabilities. Both issuances received high ratings from HR Ratings and Moody’s Local México.

This marks the first time COMLADE has issued debt on the stock market since its creation in July 2005. The issuance is part of an authorized program to place up to 25,000 million pesos over the next five years.