Trinidad Cement secures US$240m bridging facility

Trinidad Cement (TCL) has signed a US$240m bridging facility made up of two parts, according to Trade Finance. TCL said the loans are required to repay existing debts.

The cement manufacturer sealed the loans last month with short tenures. Citi is the main underwriter and Credit Suisse is also participating. One loan is for US$20m with a six-month term, while the other is for US$220m with a nine month tenure.