Cement News tagged under: Debt Reduction

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South Cement Co to issue short-term bills, China

06 November 2012, Published under Cement News

South Cement Co, owned by China National Building Materials Co, has announced it plans to issue CNY1.5bn (US$240m) in short-term bills with a maturity of 365 days in the interbank market on 12 November. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date are set on 13 November and the to-be-issued bills tradable 14 November. CNY200m of the proceeds from the issue wil...

Anhui Conch to issue bonds, China

01 November 2012, Published under Cement News

Anhui Conch Cement Co Ltd has been given the greenl ight by China Securities Regulatory Commission to issue no more than CNY6bn (US$2.13bn) of 10-year corporate bonds publicly. The proceeds from the issuance will be used to replenish working capital and repay bank loans.

Cemex announces Latam share offering, Colombia

22 October 2012, Published under Cement News

Cemex said on Friday it plans to offer some 126.6 million common shares of its Cemex Latam Holdings unit to be listed in the Colombian stock market. Cemex Latam Holdings includes Cemex's cement and ready-mix assets in Colombia, Panama, Costa Rica, Brazil, Guatemala, Nicaragua and El Salvador. About 110.1 million shares will be put up for grabs in a public offering to investors in Colombia and in a concurrent private placement to eligible investors outside Colombia, Cemex said in a relea...

Domestic demand drives Kohat Cement FY12 sales

10 September 2012, Published under Cement News

Pakistan’s Kohat Cement Company Ltd (KOHC) achieved a 26.5 per cent YoY growth in domestic sales during FY12, outperforming the industry which grew 8.8 per cent. Its exports, however, suffered a steep decline of 29.6 per cent YoY to 273,000t, reducing total growth to 12 per cent. The company achieved a four-year high capacity utilsation rate of 59 per cent, the highest since it started operations of ist expansion project. It expects volumes to grow at CAGR of four per cent for to 1.9M...

China Tianrui Group to issue CNY500m notes

10 September 2012, Published under Cement News

China Tianrui Group Cement Co has said it will issue CNY500m (US$78.9m) worth of medium-term notes with a maturity of three years in the interbank market on 17 September. The company, a leading clinker and cement producer in Henan and Liaoning provinces, said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on 18 September 18, and the to-be-issued notes tradable 19 September. A...

Cementos Blancos leases Azuara plant to Cemex, Spain

05 September 2012, Published under Cement News

Spanish cement producer Cementos Blancos de Aragon (CBA) has signed an agreement to lease its plant in Azuara to Cemex, according to local press reports. Through the move, CBA aims to repay EUR30m syndicated loan to a pool of banks including La Caixa Banco Popular and Banco Sabadell. Cemex, meanwhile, intends to relocate the plant’s equipment to its other production facilities in Spain, sources told Cinco Dias. The newspaper also reported that Cemex is set to announce this week a do...

HeidelbergCement revenues rise driven by North America and Asia

31 July 2012, Published under Cement News

HeidelbergCement has reported a rise in revenue and profit for the second quarter of 2012 driven by increased sales in North America and Asia as well as successful price increases. The group has confirmed its targets for the year and expects sustained growth in Asia-Pacific and Africa-Mediterranean Basin as well as continuing recovery in North America but weaking demand in parts of Europe. The company's revenue for the April-June period rose 11 per cent to EUR3.8bn.  Positive exchange rat...

Cemex bolstered by improving US sales

30 July 2012, Published under Cement News

Cemex has reported an improved profit line for the first-half of 2012, as sales from its US division move into long-awaited positive territory signalling that the debt-laden producer could be heading in the right direction despite declines in its two biggest markets of Mexico and Europe.   The company's first half turnover declined by 2.1 per cent to US$7373.1m but EBITDA improved 9.4 per cent to US$1273.2m and the trading profit rose 40.7 per cent to US$611.9m. Meanwhile, in the second-qua...

Cementos Portland to cut 250 jobs, Spain

26 July 2012, Published under Cement News

Spanish cement producer Cementos Portland Valderrivas is to cut 250 jobs throughout its Spanish operations after the summer and will temporarily halt production of plants in the Catalonia region. Spanish press have reported that an agreement on these measures has been made between management and trade union members. Some 160 jobs will be cut through retirement plans for people aged 58 and above. Another 60 employees will occupy new positions while 30 can opt to move to relocate to othe...

Cementos Portland Valderrivas extends credit line, Spain

18 July 2012, Published under Cement News

Cementos Portland Valderrivas has reached an agreement with its creditors to extend by end-July the maturity of a EUR-340m credit line, due to expire yesterday. The company has intention to refund its debt standing at EUR1.4bn. (Source: Cinco Días)