Interceramic successfully closes USD665 million syndicated loan

BBVA Mexico acted as Joint Lead Arranger & Bookrunner in a USD665 million syndicated loan for Internacional de Cerámica, SAB de CV., divided into a USD600 million 18-month tranche and a USD65 million 3-year revolving facility. BBVA underwrote USD120 million of the deal with a final take of USD117 million. The syndication was oversubscribed by 1.4 times the amount of the loan and had a final participation of more than 12 international and domestic banks.

The proceeds of the loan were used in part for the purchase of shares through a tender offer, with the goal of delisting the company from the Mexican Stock Exchange, as well as for the prepayment of a currently outstanding syndicated loan.

Internacional de Cerámica, SAB de CV., specializes in production and sale of glazed ceramic floor and wall tile, as well as complementary products. Interceramic's products are known internationally for their quality and design innovation, as well as the quality of service offered by the company.

Interceramic was founded in Mexico in 1979 in the city of Chihuahua, and today distributes its products not only in this country but also in the United States, Guatemala and China.

BBVA congratulates Internacional de Cerámica, SAB de CV., for this successful closing and thanks it for entrusting this important transaction to us, which reinforces BBVA's leadership in Mexico in syndicated loans and fortifies its relationship as the company's main banker.