Brazil’s InterCement reaches agreement with debentureholders to defer payments

By William Gullotti

Buffalo, N.Y., June 8 – InterCement Participacoes SA’s wholly owned subsidiary, InterCement Financial Operations BV, reached an agreement with holders of the $750 million 5¾% notes due 2024 (ISINs: US17186LAA17, USN20137AD23) issued by subsidiary InterCement Brasil SA, according to an announcement.

To allow the company to preserve liquidity, holders of the Rule 144A and Regulation S debentures agreed to a short-term deferral of payments of both principal and interest on June 7.

The deferral agreement includes a R$151 million payment of accrued interest due on June 8, with the remaining balance to be paid in September.

The construction materials company is based in Sao Paulo, Brazil.

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