PPC Zimbabwe expects to repay legacy debt in FY22
PPC Zimbabwe has acknowledged the receipt of US$11.2m under a legacy debts repayment facility. The company had accrued a US$21m debt due to cash flows generated in the country b...
Debt Reduction
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Lafarge Africa plans to cut debt over the next 18 months
Lafarge Africa Plc plans to cut debt over the next two years as it seeks to boost profit before resuming expansion, according to the company’s chairman, Mobolaji Balogun. The co...
Star Cement receives government subsidies to reduce debt
Star Cement has received INR2bn (US$29.7m) towards a subsidies claim from the central government. The company intends to use the amount to further reduce its debt.
Cimpor
Cimpor is likely to return to the stock market as InterCement, the intermediate holding company, is looking to reduce debt levels. InterCement sold a significant minority stake ...
Steppe Cement repays bonds
Kazakh cement producer Steppe Cement has repaid bonds issued in November 2012, according to StockMarketWire. The bonds totalled KZT1.49bn (US$4.48m) and were paid out of the cas...
India: Burnpur Cement blames demonetisation for repayment failures
Burnpur Cement has declared its inability to repay bank loans on Saturday due to demonetisation as its repayments had turned “irregular” with lenders because of “depressed” mark...
China: Shanshui Cement to raise HK$456m from placing
Shanshui Cement announced that it has entered into a placement agreement, proposing the placing of 910-950m new shares at a price not less than HK$0.5/share. This placing price ...
Birla completes acquisition of Reliance Cement
Birla Corporation announced that is has completed the acquisition of Reliance Infrastructure subsidiary, Reliance Cement. The deal was valued at about INR48bn (US$715.6m). Relia...
Cemex amortises US$353m debt
Mexican cement maker Cemex has amortised a US$352.95m debt that was due to expire in 2022, as part of its refinancing strategy to lower costs, reports Reuters.
PPC
Shares in PPC have plummeted following the company’s announcement that it is preparing a capital raising of up to ZAR4bn (US$256m), whilst also revealing it is in talks with a c...