Grupo Gigante borrows again to pay off debt

Grupo Gigante borrows again to pay off debt

Debt Loans Mexico

Mexican conglomerate Grupo Gigante has signed a new loan and restructured outstanding debt worth MXN1.99 billion ($98.9 million) combined with local lender Inbursa, it said in a securities filing. As part of the deal, Grupo Gigante took out a new 10-year loan for MXN391 million to refinance debt from its subsidiaries Covilla, Arbokel and Guadalvilla, the company said in the filing on Tuesday. The loan priced at a floating rate and increasing monthly repayments, it added without providing more in

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