January 28, 2020
Monterrey Metro, a rapid transit system known as Metrorrey, has closed MXN2.32 billion ($122 million) in long-term financing to fund the acquisition of 26 new trains for Line 3, according to its legal adviser Hogan Lovells.
Banorte provided MXN1.4 billion in financing, while the state-owned development bank Banobras put in MXN920 million. The 20-year loan pays the TIIE interbank lending rate plus 0.85%, according to a previous statement from Metrorrey.
When Metrorrey ran the competitive bidding
Monterrey's rapid transit system borrows $122 mln from Banorte and Banobras to buy 26 new trains for Line 3