FibraShop, Zebrands sign syndicated loans
Summary
Mexicos FibraShop, a real-estate investment trust that specializes in shopping malls, took out a green syndicated loan for MXN1.93 ($93 million) to pay off debt.BBVA M\xe9xico was the lead bank and BanCoppel, Mifel and Monex also participated in the deal, the investment firm said in a securities filing on Tuesday. Pricing details were not disclosed.FibraShop is planning to raise additional funds through either a bond sale or another bank loan in order to refinance a bond that it said is maturing soon.Elsewhere in the retail sector, Zebrands signed a MXN1.1 billion syndicated loan with the local arms of HSBC and Banco Sabadell.The company plans to use the proceeds to fund new store opening in 2025, increase its production capacity and buy back shares, HSBC said in a press release.Meanwhile, Mexican payroll lender Consubanco plans to issue up to MXN1.4 billion worth of bonds in the local market to pay off debt, Fitch Ratings said in a report.The bank plans to price the 2027 bond at the TIIE interbank lending rate, the report said.In July, Consubanco raised MXN2.2 billion in a private placement backed by the International Finance Corporation, the private sector arm of the World Bank Group.