May 10, 2019 |
Mexico's Grupo Hermes has secured a new $210m loan to refinance debt from two hotels in the Yucatán Peninsula, LatinFinance has confirmed.
Banco Sabadell, Banorte and Santander were the lenders, with Sabadell as the administrative agent and Banorte as the guarantee agent, said a source close to the deal.
Hermes put up hotels in the United Kingdom as collateral. Two Hermes subsidiaries — Hermes Desarrollos Turísticos and Construcción de Proyectos Turísticos Hermes — received the loan.
Mexican conglomerate gets $210m from three banks to pay off debt from projects in the Yucatán