Santander Hops on to Nemak Deal

Santander filed a last minute commitment to participate as an MLA on Nemak’s $640m 5-year term loan. The bank took a $75m ticket, and is the sixth to join the MLA tier that already includes BNP Paribas, EDC, Comerica, ABN and BofA. The bookrunners on the deal are HSBC, Citi, BBVA and Standard Chartered. A retail bank meeting will be held today in Mexico City. The loan pays 75bp out of the box on a leverage grid that moves between 65bp and 85bp over Libor.