Cement News tagged under: corporate
China Shanshui launches US$400m bond, China19 April 2012, Published under Cement NewsChina Shanshui Cement Group has launched a US$400m dollar bond to yield 10.5%, a person familiar with the matter told Dow Jones Newswires on Thursday. The planned five-year bond will be callable after three years, the person said. Initial price thoughts had suggested a yield in the "high 10s." Credit Suisse, Deutsche Bank, HSBC and JP Morgan are joint bookrunners and lead managers on the planned Rule 144a/ Reg S senior notes, which are provisionally rated BB-minus by Fitch Ratings and Sta... |
S&P rates China Tianrui Group Cement 'B+'19 April 2012, Published under Cement NewsRatings agency Standard & Poor’s (S&P) has assigned its 'B+' long-term corporate credit rating and 'cnBB' Greater China credit scale rating to China Tianrui Group Cement Co. Ltd. (Tianrui group). The outlook is stable. A the same time, Standard & Poor's assigned its 'B' issue rating and 'cnBB-' Greater China credit scale rating to the group's proposed issue of senior unsecured notes. The rating on the notes is subject to our review of the final documentation for the notes issuance. Tianrui g... |
Raysut Cement seeks new funds, Oman18 April 2012, Published under Cement NewsRaysut Cement has announced that its Board of Directors has approved moves for a fresh term loan of OMR64m (US$166.2m) from three Omani banks. T he board has given its approval at a meeting held on Wednesday and, accordingly, Raysut will seek OMR64m in funding from BankDhorfar, BankMuscat and Oman Arab Bank to refinance the existing loan of a higher installment and interest totaling about OMR19m a year for a tenure of five years. According to Raysut, the new loan will help extend the... |
TXI sells package products operations to CRH arm, USA18 April 2012, Published under Cement NewsTexas Industries, Inc announced the sale of its Texas based packaged products operations to Charlotte, NC-based Bonsal American, a unit of Oldcastle, Inc. The transaction included five production facilities, stretching from the Dallas-Fort Worth Metroplex to the Houston metro area and extending through Austin and Central Texas. As a part of the agreement, TXI and Bonsal have entered into a long-term cement supply agreement, and TXI will continue to produce and sell packaged cement and ... |
UltraTech Cement appoints additional director, India18 April 2012, Published under Cement NewsUltraTech Cement’s board of directors have appointed M Damodaran as an additional director (independent) with effect from 16 April 2012, the company said in a statement to the Bombay Stock Exchange. |
Tianshan Cement first-quarter profit forecasts, China18 April 2012, Published under Cement NewsXinjiang Tianshan Cement, based in Xinjiang Uyghur Autonomous Region, has forecast that its net profit widened to CNY133m (US$ in the first quarter of 2012 from CNY7.41, a year earlier. The company's net profit soared 124 per cent YoY to CNY1.13bn in 2011, China Business Newswire reports. |
Steppe Cement sales fall, Kazakhstan17 April 2012, Published under Cement NewsKazakhstan-based Steppe Cement said Tuesday that in the first quarter ended March 31 it sold 170,080t of cement for KZT1,953m, compared with 187,404t for KZT1722m in the first quarter of 2011, a fall of nine per cent and an increase of 13 per cent, respectively. The company noted that total first-quarter 2012 domestic consumption in Kazakhstan increased nine per cent YoY. The average cement price in the current quarter for delivered cement was KZT11,483/t (ex VAT) compared with KZT918... |
China Shanshui seeks to price dollar bond, China17 April 2012, Published under Cement NewsChina Shanshui Cement Group Ltd is seeking to price a benchmark US dollar bond to yield in the "high 10s," a person familiar with the matter told Dow Jones Newswires on Tuesday. Credit Suisse, Deutsche Bank, HSBC and JP Morgan are joint bookrunners and lead managers on the planned Rule 144a/ Reg S senior notes, which are provisionally rated BB-minus by Fitch Ratings and Standard & Poor's Ratings Services. |
Cementos Portland to ask permission for capital hike, Spain17 April 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas will request its shareholders permission to launch a capital increase over the next five years. With the move, the company is seeking to reinforce its balance sheet in case it fails to wrap up the sale of US unit Giant. The company's shareholders will hold a general meeting on May 18. Abstracted from an original article in Cinco Dias |
Fauji Cement reports drop in profit, Pakistan17 April 2012, Published under Cement NewsPakistan cemet producer, Fauji Cement Company, has reported a lower profit after tax of PKR140.391m (US$1.55m) during nine months ending 31 March, 2012. According to financial results sent to the Karachi Stock Exchange, pre-tax profit fell to PKR286.417 due to higher financial costs during the period under review compared to PKR369.294m in the same period last year. Earnings per share also dropped to PKR0.109 compared to PKR0.438 in 2011. |