Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Mabe Secures Debt-Reducing Loan
Dec 9, 2004
 Printable format
 Email this Article
 Search

Mexican appliance company Mabe, a joint-venture with General Electric Co., announced that it closed a U.S. $400-million bank loan that it will use to refinance existing debt.

The 5-year loan will be priced using a leverage grid, which decreases interest as the borrower lowers debt, and has an initial Libor margin of 100 basis points, Mabe said.

The appliance company also said ABN Amro, Citigroup Global Markets and Standard Chartered were joint lead arrangers for the loan.

Mabe produces of gas and electric ranges, refrigerators, and washing machines for the Latin American market. It reportedly has a 48-percent market share in white good appliances in Mexico and also exports to the U.S. through GE.

The company said it expects to report sales of $1.88 billion this year and more than $260 million in earnings before interest and taxes. (Dow Jones)

Back to Daily News

 

Daily News

...........................................................

Apr 22, 2014: Final Rule Establishes Refrigerator Testing

Apr 22, 2014: A Third of Homes Worldwide Could Have Networks by 2018

Apr 22, 2014: Appliance Category Industrial Output Up 2% in March

Apr 21, 2014: Final Commercial Refrigeration Rule Published

Apr 21, 2014: Elam Offers Android-Enabled Kitchen Interface

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows