Mexichem announces successfully completed the negotiation of the loan Wavin holds from various European banks (2012-07-12 )

Mexichem S.A.B de C.V. announces that on July 11th, it successfully completed the negotiation of the loan Wavin holds from various European banks.

The financing has been agreed at 320 million Euros. All the previous guarantees and restrictions have been eliminated; the maturity is set for April 2015.

This results in an annual benefit of 3.2 million Euros through the reduction of the previous rates, sum, and additional charges.

HSBC has been incorporated into the group of leading banks for this financing.

This negotiation increases Wavin's financial flexibility, allowing it to improve its balance sheet, and providing the necessary support for it to achieve its consolidation and growth plans and programs to reach the set goals.