White & Case advises Genomma Lab Internacional on two Mexican peso-denominated offerings
2 min read
Global law firm White & Case LLP has advised Genomma Lab Internacional, S.A.B. de C.V. (Genomma) on the issuance of two series of Mexican peso-denominated debt securities in the form of CBs (certificados bursátiles). The issuances, which were made under Genomma's locally registered CB program under the ticker symbols LAB 23 and LAB 23-2, were listed on the Mexican Stock Exchange for a total of MXN 1.5 billion.
The LAB 23 issuance was for MXN 400 million (approximately US$20 million), at a floating interest rate (TIIE, the Interbank Offering Rate in Mexico) plus a spread of 0.64 basis points, due in March 2026; while the LAB 23-2 issuance was for MXN 1.1 billion (approximately US$55 million), at a floating interest rate (TIIE) plus a spread of 0.83 basis points, due in March 2027. Due to the success of the initial issuances, White & Case also advised Genomma on a reopening of its LAB 23 CBs, which was done in an expedited fashion for MXN 1.1 billion (approximately US$55 million), to reach a total of MXN 2.2. billion (approximately US$110 million), at a floating interest rate (TIIE) plus a spread of 0.83 basis points, due in March 2027.
Genomma will use the proceeds from both issuances for debt refinancing. Actinver Casa de Bolsa, Casa de Bolsa Banorte, Casa de Bolsa BBVA México, Casa de Bolsa Santander, Intercam Casa de Bolsa and Scotiabank Inverlat Casa de Bolsa acted as underwriters, and CIBanco acted as common representative.
Genomma Lab is one of the leading pharmaceutical and personal care products companies in Mexico with an increasing international presence. It develops, sells and markets a broad range of premium branded products, many of which are leaders in their categories.
The White & Case Capital Markets team was led by partner Eduardo Flores, and included associates Simon Micha and Viridiana Alanis Carrera (all in Mexico City) in close collaboration with Genomma's Finance and Legal Teams.
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