The biggest cement producer in the Colombian market, yesterday placed 390 millon dollars in bonds to refinance it´s debt.
The objective of the placement was achieved because the company managed to put in the long term de 90% of the expiration of the obligations, and with this issue the company completed the quota allocated by the Finance Superintendence.
The bonds were issued with a 6 year expiration with an interest of CPI + 3,80% points, 10 years with a return of CPI + 4,24% points and 15 years with CPI + 4,50%.
The Cement Company is controled by Argos Group, which is part of the GEA (spanish acronym for Antioquian Business Group) that is the largest industrial conglomerate of Colombia.
The company has 9 plants in Colombia and 2 in the United States, meanwhile has operations in Haiti, Panama, Dominican Republic, Suriname, Antique, Curazao, Dominica, St. Marteen and St. Thomas.
With this placement the company succeded into changing the complete profile of their debt and maturities that match the cash flow generated by the company.