GCC, S.A.B. de C.V., (“GCC” or “the company”), a leading producer of cement and concrete in the United States and Mexico, today announced that it completed the issuance of a US$500 million sustainability linked bond with an interest coupon of 3.614% and a maturity date of April 2032 (the “SLB”).
The net proceeds obtained from the SLB issuance will be used to pay for the redemption of the entire amount of the GCC 5.250% notes due in 2024, partially refinance bank debt maturities, and the remainder, if any, for general corporate purposes.
The SLB has been rated BBB- outlook stable by Standard & Poor’s and Fitch Ratings and is aligned with the Sustainability-Linked Bond Principles leveraging a core, relevant and material sustainability performance target such as CO2 intensity reduction.
The SLB will contribute to the sustained growth of GCC while reducing interest expenses and improving the company’s maturity profile.
Enrique Escalante, GCC’s CEO said, “We recognize the role of sustainable finance in supporting the transition to a low-carbon and more resource-efficient economy and hope our issuance of sustainability-linked bond will inspire other companies to do the same.”
About GCC
GCC is a leading supplier and producer of cement, concrete, aggregates and construction‐related services in the United States and Mexico, with an annual cement production capacity of 5.8 million metric tons. Founded in 1941, the Company’s shares are listed on the Mexican Stock Exchange under the ticker symbol GCC*.
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