12 August 2024

Grupo Acerero places 700 million pesos in Notes, accompanied by BBVA

 

BBVA Mexico accompanied Grupo Acerero, S.A. de C.V. (GASA) in its placement of MXN700 million in notes, acting as Sole Placement Intermediary. The issuance, which bore ticker symbol GASA 24-2, was placed in a 5-year fixed rate format. The transaction has a Partial Guarantee of Timely Payment ("GPO") by IDB Invest for 50% of the amount issued.

 

Grupo Acerero has more than 45 years of experience, is a leading company in its industry, a major player at a national level in the production of rebar and the only producer of sheet plate in Mexico.

 

Together with the 500 million peso floating rate issue that BBVA placed in June for this Company, this issuance brings the total raised by Grupo Acerero to MXN1.2 billion, which will be used to develop a new steel mill for the flat steel division that will transform scrap into slabs, thus achieving vertical incorporation in this business.

 

BBVA Mexico congratulates Grupo Acerero for a successful closing and thanks it for entrusting this important transaction to us, with which it reiterates its intention of standing beside its clients in the development of key projects that support their growth.