Brazil’s InterCement renews agreement with debentureholders to defer payments

By Mary-Katherine Stinson

Lexington, Ky., Sept. 7 – InterCement Participacoes SA’s wholly owned subsidiary, InterCement Financial Operations BV, renewed 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 90-day deferral of payments of both principal and interest on Sept. 6.

The interest and principal payments will now be due in December.

As previously reported, the payments, which were due in June, had previously been postponed to September through an agreement reached on June 7. That previous deferral agreement included a R$151 million payment of accrued interest which was due on June 8, with the remaining balance to be paid in September before this latest deferral.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.