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Brazil’s InterCement restructures R$1 billion of debentures
By Rebecca Melvin
Concord, N.H., Oct. 1 – InterCement Participacoes SA’s wholly owned subsidiary, InterCement Financial Operations BV, announced that InterCement Group has completed a restructuring of R$1 billion of debentures, according to a release.
Partial amortization of its $750 million 5¾% notes due 2024 follows on the heels of a new R$1 billion debenture by InterCement SA in local currency.
In conjunction with the debt transactions, Participacoes and InterCement Brasil agreed on an intercompany loan agreement of equal amount.
The transactions, which were completed on Thursday, don’t change InterCement Group’s consolidated debt but reduces the debt level of Participacoes.
The construction materials company is based in Sao Paulo.
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