Argos enters into new loan linked to indicators of gender equality and reduction of carbon emissions
Published by Emily Thomas,
Deputy Editor
World Cement,
Argos, the cement Company of Grupo Argos, continues to demonstrate its concrete commitment in implementing positive ESG practices. Argos North America Corp., its subsidiary, entered into a new loan for US$300 million, in which the interest rate is linked to CO2 emission reduction indicators and the increase in the percentage of women in leadership positions. Cementos Argos S.A. and Argos USA LLC will act as guarantors in this operation. The financial entities with which the loan was taken are BNP Paribas Securities Corp., Natixis, New York Branch., Sumitomo Mitsui Banking Corporation (who will also act as administrative agent) and The Bank of Nova Scotia.
This loan is the first linked to ESG performance that Argos signs with international banks. Due to its trajectory and presence in other markets, this alliance requires high standards in terms of sustainability performance, that endorses the company's commitment to continuous improvement of its processes and indicators.
"This operation, in addition to ratifying the confidence of financial entities in the company's sustainability strategy, allows us to extend the duration of the debt and improve its financial cost, which has a positive impact on Argos' debt indicators,” says Maria Isabel Echeverri, Argos’s Legal and Sustainability Vice President.
With this new addition, there are now three credits linked to the performance of ESG indicators that Argos has signed so far in 2021.
Read the article online at: https://www.worldcement.com/the-americas/16082021/argos-enters-into-new-loan-linked-to-indicators-of-gender-equality-and-reduction-of-carbon-emissions/
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