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Financial News

Sep 2015 Financial News

Trinidad Cement Limited – TCL signs loan for US$200 million with Credit Suisse and Citibank

Sep 04, 2015

Trinidad Cement Limited (TCL) recently signed a term loan agreement for a five-year period for US$200 million. At the signing, held together with lead arrangers Credit Suisse and Citibank, TCL Chairman Wilfred Espinet noted that this loan agreement represents the end of a critical phase in the company’s comprehensive restructuring as the capital structure is one of the elements to position the company for long-term viability.

At the ceremony, Mr. Espinet noted that in addidtion to the lead arrangers, the deal attracted the participation of a diversified group of nine regional and global investors as well as past creditors of the company. TCL Chief Executive Officer Jose Luis Seijo expressed his thanks to the investors for showing confidence in the company by putting new long-term capital into the cement manufacturer. Seijo assured that the company would now be “laserfocused” on the introduction of international best practices to create value for shareholders and a productive environment for its employees.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday September 4, 2015