Cement News tagged under: finance

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Heidelberg Materials launches Green Finance Framework

30 May 2024, Published under Cement News

Heidelberg Materials has announced the launch of a Green Finance Framework to help fund the ongoing transformation and decarbonisation of the building materials sector. The company intends to issue Green Bonds to finance and/or refinance assets and capital expenditure associated with economic activities that meet or will meet the eligibility criteria defined in the Green Finance Framework. According to Heidelberg Materials, this will complement the sustainable finance portfolio contrib...

Saint-Gobain issues first double green bond

27 March 2024, Published under Cement News

Saint-Gobain has successfully priced its first double green bond, reinforcing its commitment to sustainable construction. This follows a Sustainability Linked Bond in August 2022 and renewal in December 2023 of its backup revolving credit facility as a Sustainability Linked Loan. Two tranches of the green bond have been issued – EUR1bn with a six-year maturity and a 3.375 per cent coupon, and EUR1bn with a 10-year maturity and a 3.625 per cent coupon. According to the company, the bonds...

Cementos Molins signs sustainability-linked loan

16 November 2023, Published under Cement News

Cementos Molins of Spain has signed a second novation of its sustainable syndicated financing, which was originally formalised in 2019 with a first novation completed in 2021. This second continues to be classified as a "sustainability-linked loan" and extends the maturity by another two years until December 2028, maintaining the amount to EUR300m divided between a term loan of EUR75m and a revolving credit facility of EUR225m. All other terms and conditions also remain unchanged.  The ...

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.