Cement News tagged under: Debt Reduction
HeidelbergCement benefits from additional capacities07 May 2015, Published under Cement NewsHeidelbergCement's first quarter turnover improved by 12.4 per cent to EUR2,835m and the EBITDA improved by 45.9 per cent to EUR299m and the trading profit jumped 183 per cent to EUR115m. The net interest charge declined by 1.3 per cent to EUR158m and the pre-tax loss was reduced by 12.9 per cent to EUR101m and the net attributable loss declined by 16.3 per cent to EUR123m. Capital expenditure for the full year should be around EUR1200m, half of which would for expansion. Net debt at the ... |
Lafarge sees growth in the Middle East & Africa30 April 2015, Published under Cement NewsLafarge's first quarter turnover increased by 5.5 per cent to €2779m and EBITDA rose by 17.5 per cent to €403m, while the running profit advanced by 40.4 per cent to €205m. Net financial costs were reduced by 18.1 per cent to €190m but the pre-tax loss declined from €101m to €99m, with the net attributable loss declining by 28.9 per cent to €96m. Net debt at the end of March was 1.5 per cent lower at €9803m, giving a gearing level of 59.2 per cent. Cement deliveries in the quarter were dow... |
Shandong Shanshui Cement issues 210 day bills15 April 2015, Published under Cement NewsShandong Shanshui Cement Group Ltd, a subsidiary of China Shanshui Cement Group Ltd, announced that it issued CNY2bn (US$321.8m) unsecured super short-term bills with a maturity of 210 days on the interbank market on 14 April. The corporation said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is set on 16 April, and the to-be-issued bills tradable on the 17 April. The pro... |
HeidelbergCement ‘confident’ on 2015 outlook19 March 2015, Published under Cement NewsHeidelbergCement’s 2014 consolidated financial results show increases in revenue and operating income, and significant increases are expected for the year in hand. The group's turnover increased by four per cent last year to EUR12,614m, or by 8.4 per cent on a comparative basis, and the EBITDA improved by a 2.9 per cent to EUR2288m and the trading profit advanced by five per cent to EUR1595m, or by 12.9 per cent adjusting for currency movements and changes in the scope of consolidation. Af... |
Cemex aims to trim debt by US$1bn in 201518 March 2015, Published under Cement NewsCemex is aiming to cut its debt by up to US$1bn this year. The company believes it can refinance US$2.9bn in bonds at a coupon of around nine per cent this year, according to a presentation to investors. Cemex had total debt of US$16.29bn at the end of 2014. Separately, Cemex said it expected compound annual growth of four per cent in sales volumes between 2014-2016. |
Cemex may sell parts of business to pay down debt11 February 2015, Published under Cement NewsCemex could sell part of its business in northern Europe, the Mediterranean and Asia as it seeks to pay down debt, the company’s CEO told Reuters on Tuesday. Fernando Gonzalez said the firm could also sell 5-10 per cent of its subsidiary Cemex Latam Holdings, and set aside half of its earnings from asset sales to lower its debt burden. In addition to streamlining the asset portfolio and cutting debt and costs, the measures are aimed at stepping up efforts to recover its ratings in 2015. Th... |
FCC to transfer rescue funds to Portland Valderrivas17 September 2014, Published under Cement NewsSpanish builder Fomento de Construcciones & Contratas SA (FCC) is to help its cement unit Cementos Portland Valderrivas make a debt payment by transferring rescue funds, according to reports by Bloomberg citing sources familiar with the matter. FCC has reportedly received approval to creditors to transfer some EUR20m to Cementos Portland, which owes lenders EUR50m on 30 September, the sources said. Meeting the payment deadline this month will buy the Spanish cement producer more time to re... |
Cemex announces pricing on Senior Secured Notes05 September 2014, Published under Cement NewsCemex announced the pricing of EUR400m of its 4.750 per cent Senior Secured Notes due 2022 denominated in euros and US$1.1bn of its 5.700 per cent Senior Secured Notes due 2025 denominated in US dollars. The Euro Notes will bear interest at an annual rate of 4.750 per cent and mature on January 11, 2022. The Euro Notes will be issued at par and will be callable commencing on 11 January 2018. The US Dollar Notes will bear interest at an annual rate of 5.700 per cent and mature on 11 January ... |
Cemex seeks to refinance some bank debt04 September 2014, Published under Cement NewsCemex said Wednesday it is negotiating with a number of banks to refinance part of its outstanding bank debt, saying hopes to finalise the pact by the end of October. In a regulatory filing, the Mexican cement major said it is in advanced talks with a group of banks aimed at reaching a new agreement by 31 October 2014. Proceeds would be used to refinance part of an existing financing agreement with banks. Cemex refinanced around US$15bn in bank debt during the 2009 global crisis, and ... |
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 (... |