Alsea Gets Credit For Restructuring

Alsea, Mexico’s largest food retailer, has secured a loan worth $41.4 million (450 million pesos) from BBVA Bancomer. The money is to be used to refinance debt, in particular short-term obligations, and extend out its debt profile. The composition of the company’s debt is currently 95% short term and only 5% long term. It plans to restructure this so that only 15% has a short tenor and 85% has long-term maturities. Alsea also has operations in Argentina, Brazil and Chile.