MEXICO CITY, September 14, 2022 /PRNewswire/ — Mexarrend, a leader in the development of alternative credit solutions in Latin Americaannounces that it has received final approval for a line of credit with Banco Azteca for $600 million pesos, backed by real estate guarantees. The company is finalizing the documentation and disbursement is expected within the next two weeks. Thus, Mexarrend successfully concludes the refinancing of its October 2022 bond maturity.
Additionally, as previously reported, the Company has utilized its committed warehousing facilities with Credit Suisse and HSBC over the past few weeks and anticipates additional disbursements using its existing portfolio created over the past few months. The above demonstrates the effectiveness of these financing structures committed to the Company’s growth plans, maintaining a healthy balance sheet structure and continued access to market financing. In parallel, Mexarrend is working on the second disbursement with the US International Development Finance Corporation (“DFC”) in October.
Much like last year, Mexarrend remains active in its lending-as-a-service business, with deals scheduled for September and a strong pipeline through Q4 2022. This is enabling cash-positive deals for the company, generating revenue. costs. its business and diversify its revenue mix.
Mexarrend is in a sound financial position and has demonstrated its strength and access to financing in turbulent times. The Company is focused on growing its portfolio and financial solutions, strengthening its position as a leader in alternative financing for SMEs and promoting financial inclusion in Mexico and the region.
Mexarrend, SAPI de CV, has become one of the largest independent leasing companies (loan on assets) in Mexico over the past 25 years. The Company specializes in providing financing solutions to fast-growing and underserved small and medium-sized enterprises (SMEs) for the acquisition of productive assets and equipment to support growth. Mexarrend provides reliable and competitive sources of financing through its four main products: capital leases, financing, operating leases and rental.
Contact Tangelo: [email protected]
SOURCE Mexarrend, CV SAPI