March 15, 2019 |
Mexico's Arrendamás has signed a MXN450m ($23.3m) asset-backed loan from Scotiabank, LatinFinance has heard.
The five-year term loan priced at 250bp over the TIIE benchmark rate, said Antonio Zellek, an analyst at S&P Global.
Scotiabank also charged 870bp for a swap that hedges changes in the TIIE rate and fixes the interest rate for Arrendamás, Zellek said.
Under the terms of the deal, Scotiabank lent the money to a fund managed by the local lender CIBanco. The same fund holds a portfolio o
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