Nemak To Refinance Bridges

Mexican autoparts maker Nemak is considering raising as much as $500m in the bank market to refinance bridge loans it took out for a series of cross border acquisitions, according to bankers away from the deal. In May the company agreed to buy Castech from Mexico’s Grupo Industrial Saltillo for $136m and in March it said it would pay $414 plus some equity for TK Aluminum. BBVA and Citi have been tapped to lead.