Mexico's Homex to prepay Ps. 300 million certificates due March 10, 2006

By Caroline Salls

Pittsburgh, Dec. 7 - Desarrolladora Homex, SA de CV has decided to prepay its Ps. 300 million short-term certificado bursatil due March 10, 2006, according to a company news release.

The company said its decision to prepay the certificate is part of its efforts to strengthen its financial position and was prompted by its issue of $250 million long-term notes due 2015 made as part of the restructuring of its short-term debt.

Homex, based in Culiacan in the northwestern state of Sinaloa, is a vertically integrated Mexican homebuilder and developer.

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