CELAYA, Mexico – Industrias Bachoco S.A.B. de C.V. announced the company’s first bond offering of 1.5 billion pesos ($112.1 million), which was distributed to a wide range of local investors.

The offering was made in local debt capital markets for a 5-year period, maturing in 2017, the company said. Fitch Mexico gave the bonds a AA(MEX) rating, indicating that Bachoco and the offering have high credit quality, the company added.

“The resources obtained from the local bond issuance will be utilized in accordance with the company’s financial requirements,” Bachoco said in a statement.