Last Updated December 01, 2011
Mexican steel venture gets JBIC nod
Mexican steel company Tenigal has won a US$200mn loan from four local banks to finance a steel manufacturing project in Nuevo Leon, Mexico.
The loan was provided by the Japan Bank for International Cooperation (JBIC) BTMU, Mizuho Corporate Bank and SMBC, which is also acting as the facility agent. JBIC is providing a guarantee for its portion of the financing.
Tenigal was formed by Nippon Steel Corporation (NSC) and Argentinian steel manufacturer Ternium to produce products for the automobile manufacturers in Mexico, including Japanese, US and European affiliates.
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