English

Traxion contracts debt for 3,500 million pesos

Grupo Traxion, a company in the transportation and logistics industry in Mexico, announced this Wednesday that it contracted debt for 3.5 billion pesos.

It is a line of credit committed to a bank syndicate as part of its financing strategy.

For the company, this decision is in line with its commitment to optimize its financial structure.

The loan is made up of a long-term simple line of 3,000 million pesos, with increasing repayments and maturity in 2026, and a margin between 175 and 285 basis points, which will depend on the calculation of the ratio of Traxion’s net debt over EBITDA.

It also includes a revolving line of 500 million pesos, maturing in 2024 and a margin of 200 basis points.

Both components of the loan are unsecured, according to Traxion in a statement.

Regarding the use of that debt, Traxion communicated that it plans to have a portion of this credit line to refinance and prepay the balance of the current syndicated loan at the end of March 2021.

“With this line of credit we further strengthen our balance sheet and improve the profile of our debt, in line with our financing strategy and our commitment to innovate and seek the best alternatives to have an optimal financial structure” commented Aby Lijtszain, CEO and co-founder of Traxion.

Traction

The company offers comprehensive solutions through the broadest and most diverse portfolio of services in the country.

The Traxion platform operates two business segments: cargo transportation and logistics services, and school and personnel transportation.

Traxión was established in 2011 and closed 2020 with an average fleet of 8,357 power units, 535,855 square meters of 3PL logistics warehouse space, national presence, a portfolio of more than 1,000 clients, and more than 16,000 employees.

We operate a platform of six brands: Transportadora EGOBA, Muebles y Mudanzas MYM, Grupo SID, Auto Express Frontera Norte, Autotransportes El Bisonte, and Redpack.

Likewise, the company has one of the most modern fleets in the industry, with an average age of 4.8 years, made up of an average of 2,191 motor units, and 693 units of the last mile fleet, at the end of 2020.

The school and personnel transportation segment provides personnel transportation services to corporations, industrial parks, and hotels, as well as student transportation to schools and universities, and tourism services to groups.

Through its subsidiary LIPU, TRAXIÓN operates a centralized platform under dedicated contracts or spot service and the largest and most modern fleet in Mexico composed of an average of 5,473 motor units at the end of 2020.

 

Publicidad
Mostrar más
Botón volver arriba