GENOMMA LAB ANNOUNCES REFINANCING OF LONG-TERM LIABILITIES AND RELEASE OF REAL ESTATE COLLATERAL

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Genomma Lab Internacional, S.A.B. de C.V.

Jul 22, 2024, 10:00 ET

MEXICO CITY, July 22, 2024 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma Lab" or "the Company"), a leading company in the pharmaceutical and personal care industry in Mexico with a growing international presence, announces that it has secured a long-term credit line, refinanced financial liabilities, and obtained the release of real estate collateral tied to existing loans.

Long-Term Credit Line with BANCOMEXT

The Company secured an amortizable credit line of MXN $1,500 million pesos with a 10-year term to support its growth plans and the expansion of exports to the 18 countries where it operates. The funds were disbursed during the second and third quarters, primarily allowing for the refinancing of shorter-term or higher-cost financial liabilities.

Voluntary Prepayment of the Final Tranche of the Plant Loan with IFC

In 2018, the International Finance Corporation (IFC), a member of the World Bank Group, along with BID Invest and the Inter-American Development Bank (IDB), both members of the BID Group, provided a joint financing package of approximately US$ 100 million to finance the construction of the Company's manufacturing Industrial Complex.

On June 17, 2024, the Company made a voluntary prepayment of the final tranche of the loan contracted with IFC for Ps. 101.1 million, including principal and accrued interest corresponding to the total outstanding balance contracted for the plant's construction.

Release of Real Estate Collateral for BID Loan Tranches

Following the reduction in the outstanding balance of the loan with BID, the Company requested and obtained the release of the collateral corresponding to the real estate assets on July 18, 2024. This will allow Genomma Lab to consider approximately 180,000 m² of land adjacent to the plant for its strategy to sell "non-core assets."

Antonio Zamora Galland, CFO, commented: "We thank our strategic partners, IFC, BID, and BANCOMEXT, for their trust and continuous support of our mission to increase the supply of affordable over-the-counter medications and personal care products throughout the Latin America and Caribbean region."

He added: "Genomma will continue to strengthen its financial debt maturity profile, optimize the average duration of its liabilities, and enhance its return on invested capital."

About Genomma Lab Internacional

Genomma Lab Internacional, S.A.B. de C.V. is one of the leading pharmaceutical and personal care products companies in Mexico with an increasing international presence. 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. Genomma Lab relies on the combination of a successful new product development process, a consumer-oriented marketing, a broad retail distribution network and a low-cost, highly flexible operating model.

Genomma Lab's shares are listed on the Mexican Stock Exchange under the ticker "LAB B" (Bloomberg: LABB:MM).

SOURCE Genomma Lab Internacional, S.A.B. de C.V.