Manuel Quinche

Cuatrecasas assists in $750m loan to Argos North America

Cuatrecasas, through its team in Bogotá, has assisted a consortium of banks in the granting of a US$750 million loan to Argos North America Corp, a subsidiary of cement group Cementos Argos, for a debt refinancing, working capital financing and equity investments.

The banks advised that provided the loan were The Bank of Nova Scotia, BNP Paribas, JP Morgan Chase Bank, SMBC and Bank of New York Mellon.

The financing is also expected to contribute to the company’s meeting ESG targets. More specifically, a reduction of the interest rate is foreseen based on the reduction of CO2 emissions and sustainable growth.

The loan will also be used for other corporate purposes of the company, such as strengthening its capital structure and liquidity position, without increasing the organisation’s financial leverage. The transaction is also part of the Colombian group Cementos Argos’ strategy to list and issue shares of Argos North America Corp. on the New York Stock Exchange.

Cuatrecasas’ team comprised partner Manuel Quinche (pictured) and associates Felipe Londoño and María Paula Cortés.

L Giselle Estrada