Cement News tagged under: financing
Saudi Arabia: Yamama Cement secures US$266m for new plant03 January 2017, Published under Cement NewsSaudi Arabia's Yamama Cement Company has secured SAR1bn (US$266.6m) to partially fund the building of a new plant, it said on Monday. The three-year financing includes SAR750m from National Commercial Bank and SAR250m from Samba Financial Group, the company said in its statement. The company signed a SAR4.2bn contract with thyssenKrupp Industrial Solutions in November 2015 to build the works, it said at the time. It will be located 100km outside the Saudi capital of Riyadh and boast a ... |
PPC22 July 2016, Published under Cement NewsLast month saw PPC stock fall to a 13-year low following its downgrading by S&P Global Ratings, according to recent reports by Bloomberg. In response to the downgrade, the company announced plans to raise over ZAR4bn (US$279m) to tackle rising debt from its ongoing investments in new projects and challenging trading conditions in its home market of South Africa. This triggered a 6.2 per cent slump in its stock, taking it to its lowest level since March 2003. The cement producer is reporte... |
China’s ICBC and Anouar sign US$171m financing agreement14 December 2015, Published under Cement NewsMorocco’s investment group Anouar Invest has signed a financing agreement with the Industrial and Commercial Bank of China (ICBC) in the amount of US$171m for the construction of a cement works in Settat, Morocco. The project’s MAD2bn (US$203m) engineering, equipment and construction contract was awarded to Sinoma-CDI, which expects the new plant to be up and running by the end of 2018. Anouar Invest is also building a cement unit in Laâyoune. |
Cemex enters new US$1.35bn credit agreement01 October 2014, Published under Cement NewsCemex SAB de CV announced it entered a new credit agreement for US$1.35bn with nine of the main lending banks from its Facilities Agreement of 17 September 2012. The new agreement’s main terms include an average four-year term with equal semi-annual payments of principal of 20 per cent each, with a three-year grace period and September 2019 as the last payment date. In addition, there will be a spread over LIBOR of 250-375 basis points, depending on the level of leverage of the company, an... |
Chile's Cementos Bío Bío restructures Corpbanca and BCI loan21 August 2014, Published under Cement NewsChilean cement producer Cementos Bío Bío has reached a finance agreement with Corpbanca and BCI to restructure a loan taken out in August 2012. The CLP120bn (US$206m) loan has a maturity of seven years and a two-year grace period. The loan will be repaid in 20 quarterly installments, starting 17 November 2016. The debt restructuring is expected to enable the cement company to face a contraction in the cement market in an improved financial position. |
Senj Sant to receive US$65m EBRD loan for Mongolia plant02 May 2014, Published under Cement NewsMongolia’s Senj Sant is building a greenfield cement plant in southern Mongolia to meet the growth in demand generated by the country’s rapidly-expanding economy. Part of a May 2013 financing package, the project has now received further financing by the European Bank for Reconstruction and Development (EBRD), which is extending a US$65m loan to the company. The package included a US$20m equity investment in Senj Sant, which is owned by the Monpolymet Group. During the signing ceremon... |