Cement News tagged under: financing
CEMEX refinances credit agreement12 April 2024, Published under Cement NewsCEMEX has successfully refinanced its euro-denominated sustainability-linked syndicated credit agreement, extending the final maturity to 2029. The refinanced credit agreement consists of a EUR450m five-year amortising term loan, and a new EUR300m four-year committed revolving credit facility. This represents a reduction of EUR50m in the term loan and an additional source of liquidity in the form of a revolver. According to the company, the signing of this agreement is an integral par... |
Adani Cement completes refinancing package26 October 2023, Published under Cement NewsAdani Cement , through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing programme for acquisition debt taken for Ambuja Cements and ACC Ltd , through a US$3500m financing package, raised from a clutch of international banks. This showcases Adani's robust access to the global financial market and strong liquidity position, says the company. “This achievement reflects our commitment to financial stability and growth. This facility will res... |
CEMEX returns to Mexican debt capital markets05 October 2023, Published under Cement NewsCEMEX has announced the successful pricing on 3 October 2023 of its sustainability-linked long-term notes for an aggregate principal amount of MXN6bn (US$332.6m), a transaction that represents its return to the Mexican debt market after a 15-year absence. The closing of the offering is expected to take place today, 5 October 2023, subject to satisfaction of customary closing conditions. The notes consist of two tranches: the first, for an amount of MXN1bn with a three-year tenor at a ... |
CEMEX launches green financing framework28 June 2022, Published under Cement NewsCEMEX has launched its Green Financing Framework (GFF), the first in its sector, further expanding the company’s commitment to sustainable finance and building a more sustainable world, the company announced in a press statement. The GFF enables CEMEX to issue green financing instruments aligned with the International Capital Market Association (“ICMA”) Green Bond Principles and the Loan Market Association Green Loan Principles. Under the GFF, CEMEX intends to allocate the net proceeds f... |
Najran Cement secures SAR328.5m loan from Al Rajhi Bank01 June 2022, Published under Cement NewsSaudi Arabia’s Najran Cement Co has obtained Sharia-compliant financing of SAR328.5m (US$87.6m) from Al Rajhi Bank. The loan will be repaid within seven years in semi-annual instalments with a six-month grace period, according to a bourse filing on 31 May. While the long-term financing will fully settle the company’s sole existing long-term loan, the funding also includes a SAR50m short-term facility to support the group’s capital. In the 1Q22 Najran Cement generated SAR23.28m in net p... |
Vicat Group signs EUR250m financing agreement24 November 2021, Published under Cement NewsVicat Group has signed a EUR250m financing agreement, which takes the form of a private placement with leading US investors, according to a press release. The financing agreement consists of two tranches. The first (EUR100m) has a maturity of 10 years, at a fixed rate of 1.27 per cent. The second (EUR150m) has maturity of 15 years, at a fixed rate of 1.57 per cent. |
CIMAF to expand capacity with IFC, Proparco and EAIF financing11 November 2021, Published under Cement NewsCIMAF will receive financial support from IFC, Proparco and the Emerging Africa Infrastructure Fund (EAIF) to help its drive for capacity expansion to meet the growing demand for housing and infrastructure in west Africa. IFC is providing a EUR161.25m financial package for CIMAF, which includes a EUR92.5m loan on its own account as well as a parallel loan of EUR33.75m from Proparco and a EUR35m B loan from the EAIF. The finance package will enable CIMAF to expand its existing cement grind... |
Yamama Cement signs financing agreement29 March 2021, Published under Cement NewsSaudi Arabia’s Yamama Cement Co has signed a financing agreement with Al Rajhi Bank for a value of SAR863m (US$229.81m), including a SAR563m long-term facility and SAR300m in short-term financing. The long-term financing is over a period of five years and is expected to settle other banks’ obligations and improve financial efficiency, while the short-term facility is for one year and will finance Yamama Cement’s working capital. |
Najran Cement signs financing agreement28 April 2020, Published under Cement NewsSaudi Arabia’s Najran Cement has signed a financing agreement with Bank Al-Jazira. The credit agreement will see a total of SAR355M (US$94.67m) paid semi-annually over five years. The first four years will see an annual payment of SAR51m and the remainder issued in the final year. |
Raysut Cement and Bank Nizwa sign OMR19.5m financing agreement27 August 2019, Published under Cement NewsRaysut Cement Co has signed a OMR19.5m (US$50.6m) agreement for Shari’a-compliant financing facilities with Oman-based Islamic lender Bank Nizwa. The facilities consist of long-term financing of OMR12m, working capital of OMR3m to the cement producer’s Salalah plant and OMR4.5m for the construction and expansion of Sohar Cement Factory. Sheikh Abdul Hafidh Salim Al Barami, vice chairman of Raysut, said: "The secured Shari’a-compliant banking facilities will set us for stronger and rapid g... |