Caribbean Cement signs two loan agreements with Cemex España

Caribbean Cement Co Ltd has signed two loan agreements valued at US$102m with Cemex España, which will be used for the repurchase of assets at its Rockfort facility. The loans will be mainly used to acquire kiln five and mill five, according to The Gleaner. The assets will be acquired from the company’s immediate parent, Trinidad Cement Ltd.

"The remainder, if any, will be used for general corporate purposes," said Caribbean Cement in a market filing.

Cemex SAB de CV, parent of Cemex España, is the majority owner of both Trinidad Cement and Caribbean Cement.