News

SMI Group inaugurates the Sustainability-Linked Bond offerings for Peru (*)

SMI Group, the pan-regional corporation leader in the packaging and recycling industry, owned by the Peruvian firm nexusgroup, announced today the pricing of a USD 380 MM “Sustainability-Linked Bond” (SLB), the first of its kind by a Peruvian issuer. The proceeds of the issuance will be entirely used to refinance debt. The offering was rated BB+ by Fitch and upgraded to Ba1 by Moody’s.

Operating in 14 countries through-out Latin America and with revenues of over USD 700MM; SMI Group is the pioneer recycling player in the region, with bottle-to-bottle recycling facilities in Peru, Colombia and other countries soon to come. As part of its ambitious sustainability agenda, SMI Group developed the first 100% recycled water bottle in South America.

This SLB includes commitments to use over 20% recycled material in their products; and, to gather more than 34 thousand tons per year of post-consumer waste (an amount enough to fill more than 4 stadiums with bottles), by the end of 2023.

Having inaugurated a state-of-the-art plant in Mexico in 2020, the SMI Group plans to continue consolidating its presence as a leading sustainable pan-regional packaging corporation.

Lima, July 26, 2021

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