Mexico’s GCC plans $500 million of 10-year sustainability notes

By Cristal Cody

Chicago, Jan. 10 – GCC SAB de CV's (formerly known as Grupo Cementos de Chihuahua SAB de CV) upcoming $500 million issue of sustainability-linked senior notes due April 15, 2032 (BBB-/BBB-) is noted to have talk in the Treasuries plus 210 basis points area, according to a market source.

Bookrunners for the offering are BBVA Securities, Citigroup, JPMorgan and Scotia.

Credit Agricole is the co-manager for the Rule 144A and Regulation S deal.

The company will mainly use the proceeds to refinance debt and to a lesser extent for general corporate purposes, S&P Global Ratings reported in its rating on the issue.

With headquarters in Chihuahua, GCC produces cement, concrete, aggregates and innovative products for the construction industries in Mexico, the United States, Latin America and Canada.

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