Grupo M Clinches CentAm Financing

Mexican retailer Grupo M has raised $100m in a 2-part loan facility for its Central American operations. Dutch development bank FMO provided a $35m 7-year loan, while Citi underwrote and syndicated a $65m 5-year piece at Libor plus 400bp. Six commercial banks participated in the syndication. “This syndicated loan with Grupo M is a landmark and unique transaction in Central America due to the amount committed and the legal structure in which seven jurisdictions were involved,” says Jorge Mora, a vp at Citi involved in the deal.