Metrorrey closes two-part loan

Metrorrey closes two-part loan

Loans Project & Infrastructure Finance Debt Mexico

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

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