Argos North America Corp signs ESG-linked loan

Argos North America Corp signs ESG-linked loan
16 August 2021

Argos North America Corp (Grupo Argos) entered into a new loan for US$300m, in which the interest rate is linked to CO2 emission reduction indicators and an increase in the share of women in leadership positions. 

Grupo Argos continues to demonstrate its concrete commitment in implementing positive Environmental Social Governance (ESG) practices with this initiative. 

Cementos Argos SA and Argos USA LLC will act as guarantors in this operation. The financial entities with which the loan was taken are BNP Paribas Securities Corp, Natixis, New York Branch, Sumitomo Mitsui Banking Corp (who will also act as administrative agent) and The Bank of Nova Scotia.  

This loan is the first linked to ESG performance that Argos has signed with international banks. Due to its trajectory and presence in other markets, this alliance requires high standards in terms of sustainability performance, that endorses the company's commitment to continuous improvement of its processes and indicators. 

"This operation, in addition to ratifying the confidence of financial entities in the company's sustainability strategy, allows us to extend the duration of the debt and improve its financial cost, which has a positive impact on Argos' debt indicators,” said Maria Isabel Echeverri, Argos legal and sustainability vice president. 

Published under Cement News