September 11, 2019 |
IAC Group has signed a $34m long-term working capital facility with Mexico's export credit agency Bancomext to fund the expansion of a plant in Monterrey and cover general corporate expenses, LatinFinance has confirmed.
In its first transaction with a Mexican lender, Luxembourg-based IAC backed the loan with two plants owned by divisions in Toluca and Hermosillo, said a lawyer involved in the deal.
Although a recent trade agreement includes incentives for companies to make more auto parts in the
Auto parts maker gets a long-term facility from Bancomext in its first transaction with a local lender