GIS stretches maturities with new debt

GIS stretches maturities with new debt

Loans Debt Corporate & Sovereign Strategy Mexico

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

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