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Mexico's Homex hires J.P. Morgan for advice

Friday, May 31, 2013

Struggling Mexican homebuilder Homex has hired J.P. Morgan Securities to be its financial adviser as the company faces mounting debt problems.

Homex, Mexico's second-largest homebuilder, said the management firm will evaluate the company's finances and sketch out alternatives aimed at turning the company around.

Homex at the end of December had a total of $900 million in three bonds due in 2015, 2019 and 2020, according to its fourth-quarter report.

Source: Reuters