CEMEX Holdings Philippines, Incorporated is a company that produces and distributes cement.
This Filipino firm mainly sells various kinds of cement products, including ready-mix concrete and gray ordinary Portland cement.
Furthermore, CEMEX sells blended cement and mortar or masonry cement. The firm sells and markets its cement offerings under the brand names Rizal, APO, and Island.
In Luzon, consumers can avail of the cement company’s Rizal and Island brands. Meanwhile, in Northern Mindanao and Visayas, consumers can purchase the APO brand.
This week, the cement firm was able to execute loan facility deals.
These agreements totaled to up to P15.2 billion, according to the report by Philippine daily newspaper The Philippine Star.
The loan facility deals state that it is allowing Solid Cement to apply the proceeds of the agreement for various purposes.
First, the loan will facilitate the cement factory to engage in investment undertakings.
Second, the loan facility agreement permits Solid Cement to settle its outstanding debt obligations.
The multi-billion-peso loan facility agreement also enables the company to deal with the expenditures and costs.
These financial responsibilities relate to the building of the new and integrated cement company of Solid Cement.
This cement line is in the Rizal-based existing plant of the firm located in Antipolo.
Finally, the facility agreements permit Solid Cement to utilize the funding for other general corporate aims.
The loan obligations that CEMEX availed will feature a seven-year tenor. This agreement is under a revolving framework.
For Solid Cement, the loan is up to P12.7 billion. Moreover, it has an interest rate totaling to 10.02 percent per annum.
Meanwhile, for APO Cement, the loan amounted to P2.5 billion. Its interest rate is worth 11.12 percent per annum.
Last January, CEMEX completed its offering of stock rights. It accumulated P12.8 billion in the fundraising event.
This accumulated funding will serve as the primary source of financing of the latest loan facility deals of the cement company.
According to its official website, in 1997, CEMEX first entered the Philippine market.
The company possessed a 30-percent minority investment in Rizal Cement Company, Incorporated.
The latter was otherwise known as Rizal Cement, founded in November 1930. During this time of starting investment, Solid Cement served as Rizal Cement’s division.
In 1999, together with other capitalists, CEMEX acquired interest totaling to 99.9 percent in APO Cement.
Then, a merger between Solid Cement and Rizal Cement took place in 2002.
On Tuesday, March 3, 2020, shares of CEMEX Holdings Philippines, Incorporated (PSE: CHP) closed at P1.31 per share.
From its previous close, this last trade price of the firm’s stock is up by P0.04 or 3.15 percent.
Furthermore, the total value turnover reached P3,163,240.00.
The Philippine Stock Exchange recorded the 52-week high of CEMEX Holdings Philippines, Incorporated at P3.39.
Meanwhile, its 52-week low is at P1.26.
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