IInterCement Participações SA (ICP) has concluded the partial amortisation of its debentures for BRL1bn (US$180m). The transaction follows a new debt issuance from its subsidiary, InterCement Brasil SA (ICB), of the same amount in local debentures.
ICB and ICB agreed on an intracompany loan agreement as well for BRL1bn. The transactions do not change either company’s consolidated debt, although it materially reduced the indebtedness of ICP stand alone, while optimising ICB’s capital structure.
