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Mexichem Announces it has Signed a Credit Facility Agreement

Mexichem Announces it has Signed a Credit Facility Agreement

Investor News
December 20, 2017

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Tlalnepantla de Baz, Estado de Mexico, December 20, 2017 – Mexichem, S.A.B. de C.V. (BMV: MEXCHEM*) (“The Company” or “Mexichem”) announces that it has signed a credit facility with BBVA-Bancomer of up to $200 million dollars. The resources of this credit facility will be used to complete Netafim’s acquisition and could substitute the use of the revolving credit facility, as previously announced, given more competitive conditions.

The most relevant terms of the credit agreement are:

• Maturity: 12-months from the borrowing date.
• Annualized interest rate: 3-month Libor + 80.5 basis points.
• Interest payment period: Quarterly
• No penalty for prepayments.
• Guarantors: Subsidiaries that represent at least 50% of Mexichem’s Consolidated EBITDA.
• Financial Covenants: Net Debt to EBITDA < 3.0x / Interest Coverage > 3.0x.
• Others: Unsecured pari passu to Mexichem’s debt

Click here for the press release

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