Secured financing to support M&G Mexico's operations

摘要

The leading American polyester company Alpek, S.A.B. de C.V., Monterrey/Mexico, has signed an agreement to provide secured financing to M&G Polimeros Mexico, S.A. de C.V. The new credit facility is secured by a second lien on M&G Mexico's PET production facility in Altamira/Mexico, and has a 2-year term for a maximum principal amount of US$ 60 million that will be disbursed in several tranches subject to certain conditions, including a restructuring plan that has yet to be presented by M&G Mexico and approved by its creditors. The new credit facility is intended to support M&G Mexico's PET operations during its restructuring process. Alpek will continue to work closely with M&G Mexico and its creditors to implement a permanent restructuring plan.