Ternium Seeks to Close Loan

Mexico’s Ternium is heard looking to close a $350m 5-year amortizing loan this month. The deal through Calyon and Citi was launched in November and commitments are due by January 16. The average life is roughly 3 years. Only five banks are expected to participate. “I think it will be a club deal at the end of the day,” says a banker not leading the transaction. Integrated steelmaker Ternium, which has operations in Mexico, Argentina, the US and Guatemala is being marketed as a Mexican credit.