Mexican transport conglomerate Grupo TMM has closed a further US$25 million of certificates under a receivables securitisation programme, worth a total US$76.3million, the company announced.
The certificates have the same terms as the certificates issued on August 19, 2003, and mature in three years.
Funding was arranged by the US' Maple Commercial Finance Group and provided by a German affiliate, Maple Bank GmbH.
Grupo TMM, based in capital Mexico City has a significant interest in rail concessionaire Grupo Transportacion Ferroviaria Mexicana (TFM), which operates the northeast railway and carries some 40% of the country's rail cargo.
Source: Business News Americas
