Mexarrend signs revolver with Credit Suisse

Mexarrend signs revolver with Credit Suisse

Loans Debt Coronavirus Mexico Europe

Mexican asset-based lender Mexarrend said it signed a revolving credit facility with Credit Suisse for MXN3 billion ($150 million) to set aside more provisions as it expands its loan portfolio. The Mexico City-based company has the option to increase the warehouse line of credit to a total of MXN4.2 billion, Mexarrend said in a securities filing on Wednesday. The new loan diversifies Mexarrend's debt profile "significantly" to fund loan growth in the coming months and years, the company added. L

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