Pursuant to Rule 13a-16 or 15d-16 of
Bonanza 80020. Culiacán, Sinaloa, México.
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Press Release |
Homex in Discussions with Zell Credit Opportunities Fund to Provide Financing
Potential new credit facilities to enable development of up to 8,000 housing units and fund general corporate activities
Culiacán, Sinaloa, April, 3rd 2014– Desarrolladora Homex, S.A.B. de C.V. (“Homex” or the Company”) today announced that it is in discussions with an affiliate of Zell Credit Opportunities Fund (ZCOF) to provide secured financing. The financing will be comprised of (i) a project development tranche of up to Ps.1.8 billion to fund construction of over 8,000 new homes and (ii) a working capital tranche of up to Ps.300 million for general corporate purposes. The specific funding that Homex will receive, as well as the agreement to fund, are subject to definitive documentation and satisfaction of certain funding conditions.
The loans will each have a three year tenor and Homex will have the option to extend the maturity date twice, each for a one year period.
Additional information on the agreement will be disclosed by the Company once the definitive documents are signed and the funding conditions are satisfied.
About Homex
Desarrolladora Homex, S.A.B. de C.V. [NYSE: HXM, BMV: HOMEX] is a vertically integrated home-development company focused on affordable entry-level and middle-income housing in Mexico.
Desarrolladora Homex, S.A.B. de C.V. quarterly reports and all other written materials may from time to time contain statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Forward-looking statements involve inherent risks and uncertainties. We caution investors that a number of important factors can cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include economic and political conditions and government policies in Mexico or elsewhere, including changes in housing and mortgage policies, inflation rates, exchange rates, regulatory developments, customer demand and competition. For those statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Discussion of factors that may affect future results is contained in our filings with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Date: April 3, 2014 | Homex Development Corp. By: /s/ Carlos Moctezuma By: /s/ Ramon Lafarga |