Genomma Lab Internacional Announces Placement Of MX$300 Million Through Two Unsecured Local Bond Offerings
MEXICO CITY, Sept. 5, 2019 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB B) ("Genomma Lab" or "the Company"), one of the leading pharmaceutical and personal care product companies in Mexico with an expanding international presence, today announced the placement of $300 million Mexican pesos in two short-term unsecured local bonds issued through the Mexican Stock Exchange ("BMV") and with a maturity of 168 and 364 days, respectively.
This is the first short-term unsecured local bond issuance in the Company's history. Both placements were nearly five-times oversubscribed from the original offering amount of $300 million pesos. For both placements, Actinver and BBVA Casa de Bolsa acted as joint book runners.
Antonio Zamora Galland, Genomma Lab Vice President of Finance and Administration commented: "We are very pleased with the result of our first local bond issuances and are particularly appreciative of our investors' continued trust and support of Genomma Lab." He added, "The success of our initial short-term debt placements provide new financing alternatives for our Company."
Genomma Lab is authorized to issue short-term and long-term unsecured local bonds under the Company's Recurring Debt Issuer Program recently instituted in July 2019 by the Mexican Security and Exchange Commission ("CNBV").
About Genomma Lab Internacional
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing pharmaceutical and personal care products companies in Latin America. Genomma Lab develops, sells and markets a broad range of Premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has a sound business model through a unique combination of a new product development process, consumer oriented marketing, a broad retail distribution network and a low‐cost, highly flexible supply chain operating model. For more information visit: www.genommalab.com
Genomma Lab's shares are listed on the Mexican Stock Exchange under the ticker "LABB" (Bloomberg: LABB:MM).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Genomma Lab Internacional, S.A.B. de C.V.