Business Services Industry
Grupo Cementos de Chihuahua obtains syndicated credit for US$100mn.
Internet Securities, May, 2002
MEXICO CITY, May 7, 2002
Grupo Cementos de Chihuahua has reported obtaining a syndicated credit for US$100 million. The first part of the loan means the company will receive US$30 million at a 3-year term and US$70 million over a five-year term. Executives from the company said that the average interest rate for the first six months would be the Libor rate plus 18 basis points. The funds will be used to pay debts related to the acquisition of Dacotah Cement and other bank credits. The group wants to consolidate its debt and improve the profile of expirations at a competitive cost.The financial organizations participating in the credit were BBVA, BBVA Securities, Bank Boston, Comerica Bank, City Bank, Banco Nacional del Comercio Exterior (Bancomext) and Wachovia...
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