Business Services Industry
Mexico: Carso obtains syndicated loan for $370mil.
South American Business Information, December, 2000
Mexican business group Carso has obtained a syndicated loan worth US$370mil from a total of 16 international banking and financial entities. Grupo Carso will use the money to restructure short-term debt in its subsidiaries Sanborns, Industrias Nacobre, Frisco, and Porcelanite. The loan was to have been of US$350mil originally and is linked to the Libor plus 1.25%. Sanborns acquired an undisclosed amountof shares in Pasteleria Francesa, known as the 'Globo' (or 'balloon') of the Mexican Bolsa, in May 2000. Telmex, also part of Carso, is to invest around US$2.4bil in 2001 to improve its telecoms infrastructure and modernisation, through, amongst other things, Internet Prodigy. Latin America's leading telecoms group has invested around US$17bil in the last ten years....
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