Cement News tagged under: Bond Issue
Thailand: TPI Polene bond issue12 January 2015, Published under Cement NewsThai-based cement producer TPI Polene says it will issue two tranches of THB6bn (US$182.5m) worth of debentures. Prachai Leophairatana, chief executive of TPI, said the first tranche would be a four-year debenture carrying a coupon rate of 4.85 per cent while the second tranche for five years carries a coupon rate of 5.20 per cent. Both tranches of debentures are senior unsecured debts and the debts will be ready for subscription on 19-21 January 2015. CIMB Thai Bank has been selecte... |
India Cements board approves funding proposal29 December 2014, Published under Cement NewsThe Board of India Cements has approved a proposal to raise INR500 crore through qualified institutional placements or foreign currency convertible bonds to meet capital expenditure, a senior company official has said. "The Board has approved the proposal for raising an amount not exceeding INR500 crore by way of issue of QIP/FCCB/GDR or other Securities to improve the leverage and for meeting normal capital expenditure," N Srinivasan, vice chairman and managing director of India Cements ... |
Cementos Argos board approves bond issue07 October 2014, Published under Cement NewsThe board of Cementos Argos has authorised a bond issue of up to COP1trn (US$493m), proceeds from which will be used for working capital and debt payments, the company said in a statement. Cementos Argos, Colombia’s largest cement producer, will have three years to issue the paper, although typically bonds are released within a few months of the board's approval. The company, a subsidiary of Grupo Argos, raised 1 trillion pesos with two bond issues during 2012. "The resources from th... |
Grupo Argos raises US$509m in bond sale11 September 2014, Published under Cement NewsGrupo Argos, the parent company of Colombia's leading cement producer Cementos Argos, has raised COP1trn (US$509.4m) in a bond sale on Wednesday that was more than doubly oversubscribed, the company said in a filing to the financial regulator. Grupo Argos said the issue enabled it to restructure debt which it said would now come due in 6.3 years instead of 1.5 years, a period it said matched its investment needs well. More than half the bonds sold will come due in 10 or 15 years though o... |
Fitch Assigns 'BB -' Ratings to CEMEX's Notes08 September 2014, Published under Cement NewsFitch Ratings has assigned expected ratings of 'BB-/RR3(EXP)' to Cemex's proposed USD notes due in 2025 and its proposed Euro notes due in 2022. Proceeds from the Euro notes issuance will be used for general corporate purposes, including the repayment of indebtedness under Cemex's Facilities Agreement. Proceeds from the USD issuance will be used for general corporate purposes, including the repurchase of a portion of the company's outstanding 2018 and 2020 notes. The Rating Outlook for Cemex... |
WCC raises US$400m in bond offering, China05 September 2014, Published under Cement NewsWest China Cement (WCC) has raised US$400m in a five-year bond deal with proceeds intended to refinance the same amount of debt. With an order book of US$4bn from 260 institutional accounts, the latest bond deal offered investors a coupon rate of 6.5 per cent, compared with 7.5 per cent on the previous five-year bond that matures in 2016, according to a term sheet seen by the South China Morning Post. At the subscription level the deal was well received by fund investors, who represente... |
Fitch rates West China Cement's Proposed Notes 'BB-(EXP)'02 September 2014, Published under Cement NewsFitch Ratings has assigned West China Cement Ltd's (WCC) proposed US dollar senior unsecured notes an expected rating of 'BB-(EXP)'. The notes will be issued by WCC and guaranteed by WCC's existing subsidiaries other than those organised under the laws of China. Refinancing drives Outlook revision WCC has US$400m of senior notes due January 2016 and CNY800m of onshore medium-term notes (MTN) due March 2016 that remain outstanding. The company intends to use the proceeds of the proposed no... |
West China Cement: proposed bond offering for refinancing29 August 2014, Published under Cement NewsWest China Cement (WCC) proposes to conduct an international offering of senior notes and will commence a series of roadshow presentations beginning on or around 1 September 2014 to certain institutional investors in Asia and Europe. The notes will be issued by WCC and guaranteed by WCC's existing subsidiaries other than those organised under the laws of China. WCC plans to use the proceeds of the proposed notes to refinance a portion of its US$400m notes due January 2016. However, the com... |
Titan to issue EUR300m Eurobond01 July 2014, Published under Cement NewsTitan Global Finance plc, a subsidiary of Titan Cement SA, on Monday announced plans to sell a five-year Eurobond issue worth EUR300m. Greece-based Titan said in a statement that the new capital will be used to refinance existing debt. The new bonds will be traded in the Luxumbourg Stock Exchange. Titan has appointed Alpha Bank, Eurobank Ergasias, HSBC Bank plc, JP Morgan Securities plc, NGB Securities and Societe Generale as joint book runners. S&P affirms ratings Standard & Poor’s (... |
Trinidad Cement shelves bond offering23 May 2014, Published under Cement NewsTrinidad Cement dual-currency offering of speculative-grade notes has been postponed to await more favorable market conditions, according to a company statement. The deal was intended to target refinancing efforts and support general corporate purposes, and terms on an oversubscribed order book were not consistent with the company’s development strategies. A $300 million tranche of seven-year (non-call four) secured notes was talked in the 9.5 per cent area, and the same went for a $25 m... |