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Ternium Pulls Loan as Outlook Sours

Jan 15, 2009

Mexican steelmaker Ternium has canceled plans to raise $350m in a 5-year amortizing loan. The facility, offered to a group of relationship banks at Libor plus 350bp, was destined for capex and debt amortization. The deal had already garnered 5-6 commitments from banks by the time the company and its leads opted...

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There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.

Luis Fernando Andrade, Colombian National Infrastructure Agency


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