Mexico City-based Bio Pappel S.A.B. de C.V. says it has secured a loan for $400 million “to refinance its debt at lower interest rates and a longer maturity, as well as to finance expansion plans.”
The producer of recycled-content paper and board says the loans range in term from five to seven years and involved five different banks: Credit Suisse, Scotiabank, BBVA, Inbursa and Santander
Also in June, Bio Pappel announced that “an affiliated company” called Enverlis S.A. de C.V. has initiated a tender offer to delist the papermaker from the Mexican Stock Exchange.
“The offeror has obtained authorization from the National Banking and Securities Commission to carry out a tender offer to acquire” nearly 7.5 million shares of the company (about 2.6 percent total shares), “which represents all the shares among the general investing public,” states a news release issued by Bio Pappel.
Latest from Recycling Today
- GreenSight Technologies wins angel investment compeition
- Recycled plastic pavers, drainage pipe used in access road restoration at historic site
- BIR World Recycling Convention 2025: Handling increasing e-scrap volumes
- DA drops case against Radius Recycling
- AF&PA, Fibre Box Association update voluntary standard for recycling cardboard
- RLG partners to launch EPR training resource
- Metso to divest Ferrous business to SMS Group
- AE Global, rePurpose Global launch plastic negative and plastic neutral packaging certification badges
