Potential New Credit Facility to build 8000 Homes
Homex in discussion with zell to provide secured financing. The financing will be comprised of a project development tranche of up to Ps.1.8B ($137M) to fund construction of over 8,000 new homes and a working capital tranche of up to Ps.300M for general corporate purposes.
HOMEX is a vertically integrated home builder focusing on entry level to middle income housing market in Mexico. Note: This is a highly distressed company and there's a risk that the deal may not go through.