GCC improves debt profile

GCC improves debt profile
Published: 18 December 2006

Grupo Cementos de Chihuahua S.A. de C.V. (GCC) announced that it has fully repaid its $1,200m peso bond that was issued and placed in the domestic Mexican market in December 2001. 
 
In addition, GCC drew down the remaining US$160m from its 7-year, US$250m syndicated loan that was obtained in August 2006. Of that amount, US$130m was used to repay the $1,200m pesos under a "cross-currency swap", while the remainder will finance, in part, the investment in the new cement plant under construction in Pueblo, Colorado.