Mexichem Announces the Renewal of Revolving Credit Maintaining Amount and Terms
June 25, 2019
Tlalnepantla de Baz, Estado de Mexico, June 25, 2019 – Mexichem, S.A.B. of C.V. (BMV: MEXCHEM*) (“the Company” or “Mexichem”) today announced that, effective June 25, 2019, Mexichem signed the renewal of its $1.5 billion revolving credit facility, maturing in five years, as well as improving different clauses and conditions in line with its investment grade rating from Standard & Poor’s (‘BBB-‘ Global scale and ‘MXAA / MXA-1 +’ National scale), FitchRatings (‘BBB’ Global scale and ‘AA + (mex)’ National scale) and Moody’s (‘Baa3’ Global scale).
The loan can be used for general corporate purposes, including corporate acquisitions, the refinancing of debt and financing of trade transactions, among others. This agreement replaces the one signed in 2014 and has been signed by a syndicate of 11 of the best well-known global financial institutions.
“We are pleased to have signed this new agreement with such prestigious institutions, which have demonstrated their confidence in the performance of Mexichem and its future expectations of growth and progress,” said Rodrigo Guzmán Perera, Chief Financial Officer.
“We were able to improve the conditions of this facility while keeping our flexibility and liquidity.”