Mexican manganese and ferroalloys producer Minera Autlan issued MXN 1.43 billion ($75.07 million) in future flow receivables securitization certificates, after signing a deal with different financial institutions.
The MXN 1.43 billion offer was part of the company’s first receivables securitization certificates issuance. The company may offer up to MXN 2 billion in revolving future flow receivables securitization certificates.
Minera Autlan said the deal is part of the company’s plan to strengthen its financial health.
According to the announcement, the first securitization certificates offer includes an “unconditional and irrevocable” partial guarantee of 33 percent from Bancomext, as well as a credit insurance policy from Atradius Seguros de Credito.