Loma Negra signs for syndicated loan

Loma Negra signs for syndicated loan
Published: 14 December 2005

Argentine cement company Loma Negra has signed a contract for a syndicated bank loan for a total of 295mn pesos (US$98.1m), the firm announced in a statement to the Buenos Aires stock exchange.  The funds will be used to make a partial early repayment offer for its series 3, 4, 5 and 6 bonds currently in circulation, the company said.  Loma Negra, Argentina’s leading cement producer, was acquired by Brazilian firm Camargo Corrêa when the latter signed an agreement to purchase Holdtotal, the holding company controlling Loma Negra.  The purchase cost US$1.03bn.