TCL signs loan agreements with international banks

Trinidad Cement Ltd (TCL) has made an announcement on its settlement of loan deals worth US$200m with international banking giants.

TCL has signed the loan agreements, which will remain operational for a period of five years, with Credit Suisse and Citibank.

During the recently held deal signing event at Citibank (Trinidad and Tobago), the chairman of TCL Wilfred Espinet has stated that the newly agreed deal represents a vital stage in the complete reorganisation process of the company, because the capital structure is among the key parts intended for ensuring long-term capability for TCL.

The TCL chairman has further stressed that the agreement, apart from the lead arrangers as well as the company s previous creditors, has also witnessed the participation of a diversified 9-member group, consisting of regional and global investors.