Mexarrend takes out loan to refinance bond

Mexarrend takes out loan to refinance bond

Loans Funds Bonds Debt Mexico Capital Markets Asset Management Project & Infrastructure Finance

Mexican asset-based lender Mexarrend said Wednesday that it had "final approval" to take out a MXN600 million ($30.1 million) credit line from Banco Azteca to refinance a bond that matures in October. Mexarrend has put up real estate holdings as collateral and expects to receive the loan in the next few weeks, it said in a statement. Last week, Fitch Ratings downgraded Mexarrend by one notch to B with a negative outlook based on concerns that the company cannot make bond payments in the next two

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