Cement News tagged under: corporate
Fitch Rates Lafarge’s Bonds At BBB21 May 2009, Published under Cement NewsFitch Ratings has today assigned Lafarge EUR1bn 7.625% bond, maturing in 2014, and its GBP350m 8.75% bond, maturing in 2017, senior unsecured ratings of ’BBB-’ respectively. The bonds have been issued under Lafarge’s EUR9bn EMTN programme. The ratings are in line with Lafarge’s Long-term Issuer Default Rating (IDR) of ’BBB-’, which has a Negative Outlook. Lafarge’s senior unsecured rating is ’BBB-’ and its Short-term IDR is ’F3’. The net proceeds of the bonds will be used for refinancing o... |
Grasim 4Q net profit down; sees pressure on margins20 May 2009, Published under Cement NewsIndia’s Grasim Industries Ltd posted Tuesday a 42% decline in fiscal fourth-quarter unconsolidated net profit from a year earlier when it had a one-time gain. Profit in the three months ended March 31 slid to INR3.85bn from INR6.67bn a year earlier, the cement maker said in a statement. Revenue rose 6.1% to INR29.32bn from INR27.64bn a year earlier. In the year-earlier quarter, Grasim took a gain of about INR2.37bn from the sale of a stake in unit Digvijay Cement Company Ltd. to Cimpor. ... |
Lafarge sets size eight-year bond at UK£350m20 May 2009, Published under Cement NewsLafarge set final terms on a planned eight-year sterling bond at a size of UK£350m (US$54m) and final guidance for a coupon of 8.75 percent, IFR reported on Tuesday. This is Lafarge’s second bond issue in two days, following the sale of a EUR1bn (US$1.4bn) five-year bond on Monday. Barclays, HSBC and Royal Bank of Scotland have been named to manage the sterling issue, which is to include a 125 basis point step-up in its coupon in the event of a downgrade to junk, said IFR Markets, a Thom... |
Ciment de Sibline 2008 profit at LBP9.8bn19 May 2009, Published under Cement NewsCiment de Sibline SAL, the third largest cement producer in Lebanon, said net profit for 2008 reached LBP9.8bn (US$6.5m). Total assets came to LBP243.2bn, the company said today in a statement published in Annahar newspaper. Ciment de Sibline, which is owned by Druze leader Walid Jumblatt, said it will pay a LBP214 cash dividend per share, the same as a year earlier. |
Arabian Cement Co 1Q09 net profit down 10% YoY19 May 2009, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) said its net profit for the first quarter of 2009 has dropped 10% YoY to SAR 103.8m (USD 27.7m). The decrease was due to lower sales and an increase in expenditure related to investments in new projects, ACC said without giving further details. The earnings per share (EPS) stood at SAR 1.3, down from SAR 1.44. The operating profit declined to SAR 103.4m for the first quarter of 2009, down from SAR 110.3m a year earlier. |
Egypt’s Alexandria Cement 1Q net profit surges 87 per cent18 May 2009, Published under Cement NewsEgypt’s Alexandria Cement posted an 87 per cent rise in net profit on Sunday to E£66.6m (US$11.9m) for the first quarter of 2009, the company said in a note to the stock exchange. The firm, a subsidary of Titan, had made E£35.7m in the same period of 2008. |
Siam City Cement (SCCC): Fair 1Q09 earnings18 May 2009, Published under Cement NewsSiam City Cement (SCCC) was still able to post an acceptable 1Q09 net profit of Bt805mn (EPS Bt3.50), although pressured by numerous negative factors with a result up 19% qoq from the high season, but down from last year by 21%. Sales were Bt5,128mn, down 2% qoq and 10% yoy from lower domestic cement demand as sales slumped by 12.5% yoy in the 1Q09 period and exports contracted by 15.2% yoy. The 1Q09 EBITDA margin was up to 31% from 21% in the previous quarter and 28% in the previous year fr... |
Lafarge Plans 2014 Euro Benchmark Bond Issue18 May 2009, Published under Cement NewsLafarge SA plans to issue a euro-denominated benchmark bond that is due to mature May 27, 2014, one of the lead managers said Monday. BNP Paribas SA, Calyon, Citigroup PLC, HSBC Holdings PLC, Morgan Stanley and Societe Generale SA have been hired to manage the deal, which should be priced later Monday. The issuer is rated Baa3 by Moody’s Investors Service and BBB- by Standard & Poor’s Corp. Source: Dow Jones |
Cemex prices were country’s highest in Jan-Apr, Mexico15 May 2009, Published under Cement NewsA survey conducted by the Mexican branch of Citigroup has determined that the prices charged by Cemex were the highest in the country during the first four months of 2009, paper El Semanario reported. Cemex and fellow manufacturers Cementos Moctezuma, Cruz Azul and Holcim Apasco - a subsidiary of Swiss company Holcim - are being investigated by Mexico’s anti-trust commission (CFC) over alleged monopolistic practices. Citigroup determined that Cemex’s average price of 2,152 pesos (US$151) ... |
HeidelbergCement Gets Bridge Financing Of EUR600m14 May 2009, Published under Cement NewsHeidelbergCement AG said Thursday it has received bridge financing for a EUR600m loan. In order to refinance the EUR600m term loan A of the Hanson acquisition facility falling due on May. 14, 2009, a new bridge facility has been provided. All lenders have unanimously agreed to this. For a comprehensive refinancing, the company is proposing to roll in the remaining tranches of the acquisition facility and other bilateral credit lines and loans under a new consolidated facility and to adjust... |