Grupo Herdez will issue sustainability-linked bond

Grupo Herdez, a food sector Mexican company, has announced the issuance of a sustainability-linked bond for an amount in local currency equivalent to 150 million dollars by the end of June. The placement of the bond is framed within a program of up to 750 million dollars, based on the prospectus published by the Mexican Stock Exchange.

The purpose of the bond issuance is to reduce by 14.9% the water consumption per ton produced by the end of year 2024, compared to the base year 2018. In the event that Grupo Herdez does not meet the established objectives, the interest rate (which has not been defined yet) will increase by 10 basis points.