TYASA secures syndicated loan

TYASA secures syndicated loan

Debt Capital Markets Loans Mexico

TYASA has obtained a seven-year, MXN3.5bn ($170m) syndicated loan from five lenders, according to a source close to the deal.  The Mexican steel producer obtained the loan at a rate of 231bp over LIBOR.  Bookrunners included Citi, HSBC and Santander. They enlisted Banco Monex and Scotiabank as additional lenders on the deal, according to the source. Citi also acted as administrative agent.  Proceeds will be used to refinance existing debt and for corporate general purposes.  TYASA is current

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