Hoteles City Express Announces the Entry of ICBC Bank to its Syndicated Credit Facility

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Mexico City, June 21st, 2022 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express” or “the Company”) (BMV: HCITY), announces the entry of ICBC (Industrial and Commercial Bank of China México, S.A., Institución de Banca Múltiple) to its syndicated credit facility for $288,000,000.00 (two hundred eighty-eight million pesos and 00/100 M.N.). Accordingly, the total amount of the syndicated loan is $3,939,388,810.95 (three billion nine hundred thirty-nine million three hundred eighty-eight thousand eight hundred ten pesos and 95/100 M.N.). Importantly, ICBC’s entry does not change the conditions of the syndicated loan agreement and does not increase the Company’s total debt.

Finally, Hoteles City Express continues to be committed to improving its capital structure by consolidating its corporate loans and benefiting from an extension in this credit’s maturity.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com 

Damian Fraser
Miranda IR
Phone: +52 55-5402-1295
 
About Hoteles City Express
Hoteles City Express is the leading and fastest-growing limited-service hotel chain in Mexico, in terms of number of hotels, number of rooms, geographic presence, market share and revenues. Founded in 2002, Hoteles City Express specializes in offering high-quality, comfortable and safe lodging at affordable prices via a limited-service hotel chain geared mainly towards domestic business travelers. With 153 hotels located in Mexico, Costa Rica, Colombia and Chile, Hoteles City Express operates five distinct brands: City Express, City Express Plus, City Express Suites, City Express Junior and City Centro, to serve different segments of its target market. In June 2013, Hoteles City Express completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol “HCITY” furthermore, on October 8, 2014, Hoteles City Express completed a follow on with the aim of accelerating its growth in new hotels over the next few years.

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