September 16, 2019 |
Mexico's Grupo Industrial Saltillo (GIS) said it has signed a $245m debt facility to extend its debt maturities and lower its financing costs by using the money to pay off a loan it got last year.
The new package involves a six-year, $195m syndicated loan with a two-year grace period, led by HSBC. The loan also delays 84% of payments until the last two years, GIS said.
BBVA, Citigroup, Comerica and Scotiabank joined the deal as lenders, said a source involved in the transaction.
The debt package
Mexican conglomerate signs a $195m syndicated loan and a $50m revolver with five banks