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

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