Copamex to Refinance Debt

Mexican paper producer Copamex has signed a 5-year syndicated loan that will enable it to refinance all its existing debt. The deal, with Rabobank, will have a 3.8-year average life, it says, without offering additional details. In a separate note, Copamex says it plans to repay early the MXP326m remaining principal on its 7.11% 2011 bonds. A finance official did not return a request for comment. Improved funding conditions have led to a lower cost of funding and improved the company’s financing structure, it says.