Bread making giant Grupo Bimbo revealed last Friday that it has issued 3.5bn pesos (US$370m) worth of peso-denominated debt on the Mexican stock exchange.

The company has issued the debt in two bonds. The first was for 2.75bn pesos and matures in five years. The second is for 750m pesos and matures in ten years. It has a fixed interest rate of 10.15% a year.

Bimbo registered with the country’s stock exchange to issue up to 4bn pesos in Certificados Bursatiles, which allow Mexican companies to issue peso-denominated debt for trading on the local market.