Cement Maker Ponders HY Bond

Mexico’s Grupo Cementos Chihuahua is considering an international bond, according to sources familiar with the plans. The idea is for a 7-year transaction pari-passu with a loan facility the cement maker is syndicating, with the two sharing collateral. The 5-year, $210m senior secured loan pays Libor+500bp, tied to a leverage grid. BBVA, Citi and Scotia are leading the loan. Cementos Chihuahua last visited the international bond market in 2006, raising $250m in 2016 and 2018 bonds, according to Dealogic data.