Guatemala: Record $75 Million Property Guarantee
The registration of sugar inventory in the Property Guarantee Registry (RGM) is the biggest since its creation.
Thursday, July 29, 2010
As a guarantee for a $75 million loan, Sucden Americas Corporation has registered a 20,000 ton sugar inventory.
In the 2 months that the Secured Transaction Registry has been operating, there have been 91 inscriptions for amounts of up to $20 million.
The Property Guarantee Registry (RGM) received its first registration for $10 million on Monday.
The Ministry of the Economy will be in charge of the Registry (RGM) which will start to function on January 2.
When there aren’t sufficient assets to use as collateral for bank financing, producers are registering their crops in the "Registro de Garantías Mobiliarias" (Movable Collateral Registry - RGM).
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