Jun 2025 Financial News

Trinidad Cement Limited - Notice of Change in Credit Arrangements

Jun 02, 2025

Trinidad Cement Limited ("TCL" or "the Company") hereby advises that, on May 28, 2025, pursuant to the authorization of its Board of Directors the Company entered into a (i) third amended and restated agreement to TCL's loan agreement dated July 24, 2018 (as last amended on December 2, 2022) with Citibank (Trinidad & Tobago) Limited as lender for a principal amount of TT$135 million (the "Citibank Loan"), and (ii) loan agreement with Scotiabank Trinidad and Tobago Limited as lender for a principal amount of TT$135 million (the "Scotiabank Loan") (the Citibank Loan and the Scotiabank Loan, together, the "Agreements"). The proceeds from the loans granted under the Agreements will be used to repay existing debt obligations of TCL under the loan agreements dated July 22, 2021, with each of Republic Bank Limited and RBC Merchant Bank (Caribbean) Limited as lenders. 

The key terms of the Agreements are:
a.    Term loan for the aggregate principal sum of TT$270 million for a period of 4 years, with 2-years grace period for quarterly capital repayments.
b.    The interest rate is the most recent T&T 3-month Treasury Bill Rate plus 250 basis points.
c.    The Agreements are guaranteed by Cemex, S.A.B. de C.V.

Source:
The Trinidad and Tobago Stock Exchange Limited
Monday 2nd June 2025