U.S. Markets open in 2 hrs 19 mins

Pacasmayo Announces the Placement of S/ 570 Million in Local Market Bonds for Debt Refinancing

LIMA, Peru--(BUSINESS WIRE)--

Yesterday Pacasmayo placed S/ 570 million in bonds in the local market, in two issuances: The first one for S/ 260 million with a 10 year maturity and a 6.6875% interest rate, and the second one for S/ 310 million with a 15 year maturity and a 6.84375% interest rate. These funds will go towards the payment of the bridge loan obtained in December 2018, after the Company did a tender offer for a similar amount of the dollar-denominated debt outstanding. This new issuance allows for less exposure to exchange rate fluctuations, longer maturity and a lower cost of capital.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo S.A.A. is a Peruvian cement company located in the Northern region of Peru. In February 2012, the Company’s shares were listed on The New York Stock Exchange - Euronext under the ticker symbol "CPAC". With more than 61 years of operating history, the Company produces, distributes and sells cement and cement-related materials, such as concrete blocks and ready-mix concrete. Cementos Pacasmayo’s products are primarily used in construction, which has been one of the fastest-growing segments of the Peruvian economy in recent years. The Company also produces and sells quicklime for use in mining operations.

For more information, please visit: http://www.cementospacasmayo.com.pe

Note on Forward-Looking Statements

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190201005350/en/