Cimpor to place US$150m bonds on North-American market

Cimpor to place US$150m bonds on North-American market
Published: 18 November 2010

Portuguese cement producer Cimpor will issue bonds worth US$150m in the North-American market.

The private placement will be carried out by the wholly-owned subsidiary Cimpor Financial Operations BV, the company said in a filing with Portugal’s bourse regulator CMVM yesterday.

Cimpor will pay a coupon of 6.7% on the ten-year bonds, which compares favourably with the sovereign cost of risk.

The placement is part of a set of Cimpor’s liquidity enhancement and maturity extension transactions.