TLALNEPANTLA DE BAZ, Mexico--(BUSINESS WIRE)--Mexichem, S.A.B. of C.V. (BMV: MEXCHEM*) ("the Company" or "Mexichem") today announced that, effective June 25, 2019, Mexichem signed the renewal of its $1.5 billion revolving credit facility, maturing in five years, as well as improving different clauses and conditions in line with its investment grade rating from Standard & Poor's ('BBB-' Global scale and 'MXAA / MXA-1 +' National scale), FitchRatings ('BBB' Global scale and 'AA + (mex)' National scale) and Moody's ('Baa3' Global scale).
The loan can be used for general corporate purposes, including corporate acquisitions, the refinancing of debt and financing of trade transactions, among others. This agreement replaces the one signed in 2014 and has been signed by a syndicate of 11 of the best well-known global financial institutions.
"We are pleased to have signed this new agreement with such prestigious institutions, which have demonstrated their confidence in the performance of Mexichem and its future expectations of growth and progress," said Rodrigo Guzmán Perera, Chief Financial Officer.
"We were able to improve the conditions of this facility while keeping our flexibility and liquidity.”
Mexichem is a global leader supplier of innovative solutions across multiple industries including building and infrastructure, data communications, irrigation and chemicals, and more. With operations in 41 countries, 137 facilities worldwide and more than 22,000 employees, Mexichem has the rights to produce fluorspar in two mines in Mexico, as well as 8 training academies and 19 R&D labs. Operations are divided into three Business Groups: Fluent, Vinyl and Fluor. Mexichem has annual revenues of U.S. $7.2 billion and has been traded on the Mexican Stock Exchange for more than 30 years. The company is a member of the Mexican Stock Exchange Sustainability Index and the sustainability emerging markets index FTSE4Good.
In addition to historical information, this press release contains "forward-looking" statements that reflect management's expectations for the future. The words “anticipate,” “believe,” “expect,” “hope,” “have the intention of,” “might,” “plan,” “should” and similar expressions generally indicate comments on expectations. The final results may be materially different from current expectations due to several factors, which include, but are not limited to, global and local changes in politics, the economy, business, competition, market and regulatory factors, cyclical trends in relevant sectors; as well as other factors that are highlighted under the title “Risk Factors” on the annual report submitted by Mexichem to the Mexican National Banking and Securities Commission (CNBV). The forward-looking statements included herein represent Mexichem’s views as of the date of this press release. Mexichem undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.”
Mexichem has implemented a Code of Ethics that rules our relationships with our employees, clients, suppliers and general groups. Mexichem’s Code of Ethics is available for consulting in the following link: http://www.mexichem.com/Codigo_de_etica.html . Additionally, according to the terms contained in the Securities Exchange Act No 42, Mexichem Audit Committee established a mechanism of contact, which allows that any person that knows the unfulfillment of operational and accounting records guidelines and lack of internal controls of the Code of Ethics, from the Company itself or from the subsidiaries that this controls, file a complaint which is anonymously guaranteed. The whistleblower program is facilitated by a third party. The telephone number in Mexico is 01-800-062-12-03. The website is http://www.ethic-line.com/mexichem and contact e-mail is firstname.lastname@example.org . Mexichem’s Audit Committee will be notified of all complaints for immediate investigation.