Gruma Restructures Debt, Derivatives

Gruma has concluded its derivative and debt renegotiations with banks, according to a statement filed with the bolsa. The Mexican tortilla-maker says it has finalized terms with its derivative counterparties on $738m in liabilities. The company says it has also refinanced a MXP3.4bn loan it has with Bancomext, setting up a new facility due 2019 with a 3-year grace period. And a $197m 5-year syndicated loan led by BBVA is also being extended, it says, without providing additional details. Goldman advised Gruma on the process.