10 January 2024
BBVA acts as lending bank in a bilateral loan to ICA and Grupo Proser
BBVA Mexico congratulates ICA and Grupo Proser for the successful closure of a bilateral loan totaling MXN956mn to finance the Libramiento project.
The proceeds of this loan will be used to build, operate and maintain a highway bypass at Progreso, located in the municipality of the same name in Yucatán
The proceeds will be used to build, operate and maintain a highway bypass at Progreso, located in the municipality of the same name in Yucatán. This is a strategic asset for development of Puerto Progress, one of the region’s most important ports.
The transaction consists of two loans: project finance for up to MXN825mn at 16.5 years, and the other a VAT line of credit for up to MXN131mn, at 3 years.
ICA was founded in 1947. It is a leading builder and operator of infrastructure in Mexico, with experience in both public and private-sector projects. The company has completed works in Mexico and has proven experience in more than 20 countries, including Canada, the United State, Guatemala, El Salvador, Nicaragua, Honduras, Panama, the Dominican republic, Puerto Rico, Venezuela, Colombia, Peru, Brazil, Chile and Argentina.
Grupo Proser is a company with more than 30 years of experience in the construction industry, specializing in building projects, roads and highways, and hotels.
We are grateful to ICA and Grupo Proser for their confidence in selecting us to act as Lending Bank, and we reiterate our commitment to continuing to support them in their growth plans.