Grupo Mexico Mines for Jumbo Loan

Grupo Mexico Mines for Jumbo Loan

M&A

After getting a court decision giving it control over bankrupt US miner Asarco, Grupo Mexico is rolling out a new jumbo M&A loan to finance the acquisition. The dual currency facility totals $1.5bn and is targeting a December close, say bankers close to the deal. Grupo Mexico is shooting for a BBB minus rating, which would result in a spread of 375bp over Libor for a 3-year piece and a 425bp over Libor on a 5-year tranche. At BB+, the 3 and 5-year pieces would pay 525bp and 575bp, respective

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