Mexican chemical and plastics maker Mexichem has struck a deal with six banks for a loan of up to $1 billion, The Wall Street Journal reports. The three-year revolving credit line will help Mexichem boost financial flexibility as well as pay its short-term obligations. The loan will also allow it sufficient resources to take advantage of opportunities that can arise in the market and to consolidate its future plans. Lenders participating in the loan are Citibank, J.P. Morgan, HSBC, Santander, BBVA and Bank of America Corp.
Click here for the story from The Wall Street Journal.