Cement News tagged under: finance

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Argos receives US$272m sustainability-linked loan

26 July 2023, Published under Cement News

Colombia’s Banco de Bogotá has disbursed a US$272m sustainability-linked loan to Cementos Argos . The agreement allows a gradual reduction in interest rate subject to the cement producer’s compliance with two environmental indicators: net specific CO 2 emissions and a supplier sustainability assessment. The loan has a repayment term of 60 months with a 24-month grace period. Under the conditions of the loan, the cement company must reduce its Scope 1 net specific CO 2 emissions to 523kg...

Holcim secures EU investment in CCUS projects

19 July 2022, Published under Cement News

Holcim has secured investment from the European Union Innovation Fund in its carbon capture, utlisation and storage (CCUS) projects in Germany and Poland. The funding will support Carbon2Business, part of the Westküste 100 project in Germany, where carbon is captured from the  Lägerdorf cement plant before being converted into synthetic fuel. The EU is also investing in Holcim's Go4ECOPlanet project in Poland, which aims to capture CO 2 from Holcim 's site in Kujawy before storing it of...

Adani Group in discussions to raise US$4.5bn

13 June 2022, Published under Cement News

Following its acquisition of Holcim’s business in India, the Adani Group is in discussions with more than a dozen foreign banks in a bid to raise US$4.5bn. According to The Economic Times, this marks one of the largest loan-based fundraisings in foreign currency by an Indian corporate entity. The proposed loan structures include mezzanine financing, stock-backed bridge loans to be repaid in cash, and a senior debt facility for 18 months. The mezzanine financing may raise US$1bn, while the...

IFC to fund Diamond Cement Guinea with US$30m loan

17 May 2022, Published under Cement News

The International Finance Corporation (IFC) has agreed to provide a US$30m loan to Diamond Cement Guinea , a subsidiary of West African Cement (WACEM), to support the completion of their 0.75Mta integrated cement plant.   The new greenfield plant, which is located approximately 25km from the town of Sougueta, Kindia prefecture, is the first integrated cement plant in Guinea. The plant’s 1500tpd clinker line commissioned in April 2021, while the 0.8Mta grinding unit will be commissioned i...

Cementos Molins signs novation of syndicated sustainable financing

16 November 2021, Published under Cement News

Cementos Molins signed a renewal of its sustainable syndicated financing for the group and affiliates in Spain, which was formalised in 2019. The novation continues to be classified as a “sustainability-linked loan” extends the maturity by two years until December 2026. In addition, the agreement now has a limit up to EUR300m, of which EUR75m as a term loan and EUR225m as revolving credit facility. All other terms and conditions remain unchanged. The financing, which was the first sustaina...

West China Cement to raise US$102m in private placement

04 September 2020, Published under Cement News

West China Cement Ltd has announced to raise CNY700m (US$101.9m) in a second tranche of private placement of medium-term notes to investors in China. The tranche has a term of three years and form part of the Medium-Term Notes of Yaobai Special Cement Group Co Ltd. The Agricultural Bank of China Ltd is acting as underwriter and China LIanhe Credit Rating Co Ltd as financial advisor of the offering. Proceeds of the second tranche will be used as general working capital of the group.

Cemex amends consolidated financial leverage limits

26 May 2020, Published under Cement News

As part of a strategy to respond to the effects of the coronavirus pandemic, Cemex has amended its main banking contract to modify the limits of its consolidated financial leverage. Its leverage limit will increase to 6.75x by June 2020 and to 7.00x from September 2020 to March 2021, before decreasing again at a later date. "At the end of the first quarter of 2020, Cemex reported a consolidated financial leverage ratio of 4.40x," said the company.

HeidelbergCement issues Eurobond with a volume of EUR650m

03 April 2020, Published under Cement News

HeidelbergCement priced a Eurobond issue (ISIN XS2154336338) under its EUR10bn EMTN programme with an issuance volume of EUR650m and a maturity date of 9 October 2024. The proceeds of the transaction will be used for general corporate purposes and the refinancing of upcoming maturities. The 4.5-year bond bears a fixed coupon of 2.500 per cent annually. The issue price is at 99.605 per cent, resulting in a yield to maturity of 2.596 per cent. "With the successful placing of the bond, Heidel...

CRH continues share buy-back

29 April 2019, Published under Cement News

CRH plans to repurchase EUR350m (US$390.6m) of ordinary shares between 29 April and 16 August 2019, according to a company statement. Under the terms of the buyback, ordinary shares will be repurchased on the London Stock Exchange and/or Euronext Dublin. CRH has entered into non-discretionary instructions with J&E Davy to conduct the transaction on its behalf and to make trading decisions under the buy-back independently of CRH in accordance with certain preset parameters. With the buy-ba...

PT Semen Indonesia

31 January 2019, Published under Cement News

Semen Indonesia has instructed BNP Paribas, Deutsche Bank’s Singapore branch, Maybank, MUFG Bank and Standard Chartered as the lead arrangers for a US$1.28bn, two-year bridge loan to support its acquisition of Holcim Indonesia. Semen Indonesia will take over 6.18m shares in Holcim Indonesia for a total cost of around US$940m. The deal includes four cement plants, 33 ready-mix plants and two aggregate quarries, giving Semen Indonesia an additional 14.8Mta of cement capacity, 10.45Mta of cl...