Cement News tagged under: Debt refinancing

RSS feed

Siam City Cement plans refinancing bond

28 March 2017, Published under Cement News

Siam City Cement, Thailand’s second-largest cement producer, has been on the road to meet fixed-income investors for a planned sale of THB13bn (US$377.8m) bond. The proceeds are expected to refinance maturing debt, including bridging loans for acquisitions in Sri Lanka and Vietnam. The company had obtained a THB18.9bn 12-month bridging loan to purchase a 65 per cent stake in Holcim Vietnam in January. That was in addition to a US$400m 12-month bridging loan raised in August to acquire Holc...

Cementos Portland to refinance EUR817m debt, reports 9M15 results

12 November 2015, Published under Cement News

Cementos Portland is currently analysing “various alternatives” to refinance EUR817m of debt, 59 per cent of its total liabilities, which expires in 2016. "The debt refinancing of the syndicated loan that matures in 2016 is ongoing and the company works in different scenarios with FCC in a coordinated way," said the cement maker on the occasion of the presentation of its quarterly results. Cementos Portland’s  debt restructuring process runs in parallel with the plan of FCC to repay EUR45...

TCL quarterly revenue boosted by higher volumes, clinker exports

06 November 2015, Published under Cement News

Trinidad Cement Ltd's (TCL) revenue rose by seven per cent in 3Q15 to TTD550.1m (US$86.3m) compared to TTD513.7m a year earlier, mainly to increased cement sales volume of 13 per cent in its domestic markets and higher clinker exports. During the second quarter the group was able to successfully refinance the restructured debt with a bridge loan and in so doing, benefitted from prepayment discounts which has been reflected in our Q2 results. In the third quarter, the group successfully...

TCL signs loan agreements with international banks

08 September 2015, Published under Cement News

Trinidad Cement Ltd (TCL) has made an announcement on its settlement of loan deals worth US$200m with international banking giants. TCL has signed the loan agreements, which will remain operational for a period of five years, with Credit Suisse and Citibank. During the recently held deal signing event at Citibank (Trinidad and Tobago), the chairman of TCL Wilfred Espinet has stated that the newly agreed deal represents a vital stage in the complete reorganisation process of the company,...

Cemex completes refinancing of its 2012 facilities agreement

04 August 2015, Published under Cement News

Cemex announced yesterday that it has fully repaid the total amount outstanding of approximately US$1.94bn under the facilities agreement dated 17 September 2012, as amended from time to time, with new funds from 17 financial institutions. These lenders have joined the credit agreement dated 29 September 2014, as amended (the Credit Agreement) under new tranches, allowing Cemex to increase the average life of its syndicated bank debt to approximately four years. Other financial institutions ...

TCL reports second-quarter results

22 July 2015, Published under Cement News

Having successfully refinance its restructured debt, Trinidad Cement Ltd has been able to take advantage of the maximum discount that was negotiated with creditors in May 2015. Net of fees incurred for the new financing, the company was able to benefit from prepayment discounts of TTD194.2m, all of which has been reflected in its second quarter 2015 results released yesterday.  The restructured debt agreement that was concluded in 1Q was refinanced in May 2015 using proceeds from a Bridge L...

TPIPL to issue debentures to refinance debt

16 July 2015, Published under Cement News

TPI Polene Plc (TPIP), Thailand's third-largest cement-maker, says it will issue five tranches of THB17bn (US$497m) worth of unsubordinated debentures to retail and institutional investors next month, with coupon rates ranging between 4.1-5.2 per cent, the Bankok Post reports. Chief executive Prachai Leophairatana said the first lot would be a three-year debenture carrying a coupon rate of 4.1 per cent while the second tranche for four years carries a coupon rate of 4.4 per cent. The third ...

Pakistan: Dewan Cement restructuring debt

22 June 2015, Published under Cement News

Dewan Cement Ltd (DCL) has taken steps to ease debt burden and improve production efficiency. According to a local brokerage house, the company has taken the first step in converting its debt amounting PKR450m into equity by issuing 45m shares and is planning to further convert debt amounting to PKR500m into 50m shares to its director. This will lower Dewan's financial leverage thereby helping it obtain a loan to meet its working capital requirements. Moreover, management intends to resch...

Saudi's Najran Cement sells SAR400m through an Islamic bond

15 June 2015, Published under Cement News

Saudi Arabia’s Najran Cement has raised SAR400m (US$106.7m) through an Islamic bond of five years duration, it said in a statement on Sunday. The sukuk was privately placed with investors and was priced at 1.4 per cent over the three-month Saudi interbank offered rate (Saibor), the firm said in a stock market filing. In May, Najran Cement said it would issue a riyal-denominated sukuk which will be used to refinance debt and for general purposes. Saudi Fransi Capital, the investment bank...

TCL poised for new loan syndication

28 May 2015, Published under Cement News

Trinidad Cement Limited (TCL) is set to launch a US$245m five-year term loan as it seeks to turn a new leaf following the completion of a debt restructuring earlier this year, Reuters reports. Bank meetings in New York today will kick off a syndication being led by Credit Suisse and Citigroup, whose bridge loan to the company is expected to be taken out with this transaction. After failing to bring a debut international bond to market last year, TCL was forced in October to miss a debt pay...