2 July 2020

InterCement restructures with US$955 million issuance

Pérez Alati, Grondona, Benites & Arntsen advised Banco do Brasil S.A. and Banco Itaú BBA S.A. (the “Banks”) in the refinancing of certain financial debts of Intercement Participações S.A. (“Intercement”).

The transaction involved: (i) the issuance and placement of simple debentures, not convertible into shares, in accordance with the public offering regulations of Brazil for a total amount of R$ 4,676,827, 000.00 (equivalent to approximately USD 910 million), payable as from 2023 and due in 2027 (the "Debentures"); and (ii) the negotiation and execution of a share pledge agreement that creates and grant a first priority security interest over 51.0437% of the capital stock of Loma Negra Cia Industrial Argentina S.A., as security of the obligations assumed by Intercement under the Debentures, and governed by the law of the Republic of Argentina.

Counsel to the Banks

Argentine External counsel: 

Pérez Alati, Grondona, Benites & Arntsen: Partner Santiago Daireaux and associates Tomás Fernández Madero and Guido Meirovich.

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