Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) said it has secured $575 million in financing from Cargill Financial Services International Inc. to pay creditors.
AHMSA said Cargill will provide an advanced cash loan of $475 million and then a revolving credit line of $100 million. AHMSA said it will use the funds to pay creditors and re-list at local stock exchange, Bolsa Mexicana de Valores (BMV).
AHMSA’s shares were suspended in 1999 from trading on both the New York Stock Exchange (NYSE) and BMV after the company said it obtained a court order to halt payment of about $1.9 billion in debt.