Republic Cement in share-swap deal with Lafarge

Republic Cement in share-swap deal with LafargePUBLICLY LISTED Republic Cement Corp. said Thursday it had issued P1.35 billion in convertible loan notes to Lafarge Holdings Philippines Inc. in exchange for the latter’s shares in cement subsidiary Continental Operating Corp. Lafarge Holdings Philippines is a subsidiary of French conglomerate Lafarge S.A. It acquired control of Republic Cement in 2001 when Lafarge SA acquired Blue Circle U.K. and all its assets, which included Blue Circle Philippines Inc., one of the stockholders of Republic Cement. With shares in Continental, Republic Cement becomes the largest cement group in the country with a total capacity of over 8.5 million metric tons of clinker a year. Republic Cement said in a disclosure to the stock exchange that the loan notes have an interest rate of 8.0 percent per annum payable in arrears on the call date. It said the note holder would have an option to convert the notes into common shares of Republic Cement at any time after the fifth anniversary date. The note holder also has the right to fix the date for settlement and discharge of the convertible loan note at any time after the fifth anniversary date of the note, it said. The settlement and discharge of the convertible loan notes shall be mandatory on its 10th anniversary date. Republic Cement has six manufacturing subsidiaries: Fortune Cement Corp., Premier Cement Corp., Iligan Cement Corp., Mindanao Portland Cement, FR Cement, and Lloyds Richfield Industrial Corp. Continental has plants in the provinces of Bulacan and Rizal, outside Manila.

(Visited 113 times, 2 visits today)

Get involved


As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us


Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs


Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.