Trinidad Cement Limited in Term Loan Facility

August 12, 2015

Cleary Gottlieb acted as special New York counsel for Trinidad Cement Limited, in a secured five year term loan facility, with an aggregate principal amount of $148.3 million and TT$329.6 million (approximately $52.4 million) to refinance in full the then-existing bridge facility. The transaction signed on August 6, 2015 and funded on August 12, 2015.

The term loan facility was entered into by and among TCL, as borrower, the subsidiary guarantors party thereto, various financial institutions, as lenders, Citibank International Limited, as administrative agent, First Citizens Trustee Services Limited, as collateral agent and Citigroup Global Markets and Credit Suisse Securities as joint lead arrangers. Security for the term loan facility includes collateral across various Caribbean jurisdictions, including Trinidad and Tobago, Barbados, Jamaica, Anguilla, Guyana and Nevis. The term loan facility is the final step in a series of transactions through which TCL successfully refinanced in full the debt that it previously restructured in 2012, which has now been paid off in full. Trinidad Cement Limited is an affiliate of Cemex and now the sole fully-integrated manufacturer of cement in the Caribbean.