Cementir completes refinancing of EUR330m bridge credit

Cementir Holding on 28 April 2017 successfully completed the refinancing of a bridge credit line of EUR330m, which is part of the financing contract stipulated in October 2016, the Italian producer confirmed in a statement yesterday.

This credit line was made available by a pool of banks to fund the acquisitions of Compagnie des Ciments Belges (CCB) and the business division of Sacci, to refinance existing credit facilities and to meet the group’s working capital requirements.

The maturity of the EUR330m credit facility, originally foreseen for April 2018, has been extended to October 2021 with bullet reimbursement, the same pool of banks and the relative terms are aligned with those of the term loan facility, Cementir added.