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Mexico to help homebuilders hit by policy shifts

Monday, July 1, 2013

Mexico’s government promised to help increase lending to homebuilders to sustain construction as the industry’s biggest companies reduce output and move to restructure debt.

Deputy Finance Minister Fernando Aportela said development banks will provide at least $387 million of eight-year syndicated credit lines.

The lines, issued through Sociedad Hipotecaria Federal and Nacional Financiera, will produce about 50,000 homes, he said.

Source: Bloomberg