January 22, 2015 / 7:58 PM / 3 years ago

Mexico homebuilder Homex signs deal for 500 mln peso credit line

MEXICO CITY, Jan 22 (Reuters) - Mexican homebuilder Homex said on Thursday it had signed an accord for a 500 million peso ($34.2 million), 10-year revolving credit line with Proyectos Adamantine, a financial firm specialized in mortgage lending and administration.

Culiacan-based Homex has struggled with a heavy debt load and slumping home sales, and filed for bankruptcy last year.

Mexican homebuilders have been hit hard since the government shifted to a policy in the last few years that gives priority to subsidies for apartment purchases by new home buyers, hurting sales of cheap houses built by Homex and its peers.

$1 = 14.6207 Mexican pesos Reporting by Adriana Barrera

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