March 24, 2021
Mexican small business lender Grupo Mega plans to add $150 million to the $350 million in 8.25% 2025 bonds that it issued in February this year, according to a report from S&P global Ratings on Monday.
The Jalisco-based company will use the additional proceeds to fund business growth, S&P said. S&P gave the proposed tap a BB-, one notch below the initial issue for $350 million in February last year.
After the tap, the $500 million in outstanding 2025 bonds will represent 64% of Mega'
Mexican small-business lender sets up a $150 mln tap to fund loan growth