Displaying items by tag: bond

India: JK Cement plans to issue US$12.2m-worth of bonds with a five-year maturity. Reuters has reported that the producer will receive bids from 20 March 2023.

Mexico: Cemex raised US$5.8m dollars from bond repurchases in 2022. Noticias Financieras News has reported that the producer paid US$65.2m for tender offers and other market operations over the same period.

Mexico: GCC has secured validation by the Science-Based Targets Initiative (SBTI) for its latest CO₂ reduction goals. The group has committed to reducing its Scope 1 emissions per tonne of cementitious product by 31% and its Scope 2 emissions per tonne of cementitious product by 57% between 2015 and 2030. It has also committed to a 37.5% absolute reduction in its products’ Scope 3 emissions over the same period. The goals will serve as sustainability performance targets for GCC’s US$500m sustainability-linked bond, which it issued in January 2022.

GCC's vice president of sustainability and environment Gina Lotito said "We are proud and excited to be a catalyst of progress towards a low-carbon future. Our laser-focus on our climate change strategy and emphasis on reducing CO₂ emissions is a testament to our commitment to creating a sustainable future. While we celebrate our achievements, we acknowledge that there is still much work to be done and remain steadfast in our mission."

Germany: Heidelberg Materials has placed a Euro750m sustainability-linked bond as part of a Euro10bn medium-term note programme. Interest on the bond is linked to group CO₂ emissions reduction, according to key performance indicators up to 2026 and 2030. Heidelberg Materials is committed to reducing its emissions per tonne of cementitious product by 30% between 2021 and 2030, to 400kg/t.

Heidelberg Materials' chief financial officer René Aldach said "The placement reinforces our aspiration to achieve the most ambitious climate targets within the industry and to increase the share of sustainable financial instruments to over 70% by 2025. With the denomination of Euro1000, we are the only company on the capital market to date to also offer retail investors the opportunity to invest in sustainability-linked bonds."

Italy: Buzzi Unicem's board of directors has elected to exercise an option of early repayment on a Euro500m bond loan. Italian Collection News has reported that the producer will make the payment on 28 January 2023. The bonds have a coupon of 2.1% and will mature on 28 April 2023.

China: BBMG Corporation has issued US$276m in short-term commercial paper on the international bond market. The bonds have a maturity date of 24 March 2023. Bank of Beijing is the main underwriter of the offering.

China Knowledge Press News has reported that BBMG Corporation has a one-year outstanding balance of US$2.53bn and a total outstanding balance of US$6.39bn.

India: Udaipur Cement Works plans to raise US$42.6m through the sale of bonds, Reuters News has reported. The producer says that the bonds will mature in March 2025.

China: Tangshan Jidong Cement plans to raise US$148m through an issuance of bonds. Reuters News has reported that the producer will use some of the funds to repay its debts, and the remainder to replenish its capital.

US: Eco Materials Technologies has finalised its US$1.05bn acquisition of Boral’s US fly ash business and launched an oversubscribed US$525m green bond issue. The issue will help it to become a global green cement production leader, according to the group. The Australian Financial Review newspaper has reported that subscriptions were four times the available bonds.

India: Udaipur Cement Works plans to raise US$114m through an issuance of non-convertible debentures (NCDs). India Infoline News Service has reported that the company will use the money it raises to fund Phase 1 of its on-going expansion project.