Basa Capital celebrated this Friday the placement of Cecon corporate bonds. It is an issue for a value of 20 million dollars, through which the development of the country will be promoted.
In the Asunción Stock Exchange, through the agent Basa Capital, the company Cecon placed corporate bonds for a value of US$ 20 million. This amount will be allocated to the implementation of the largest cement production plant in the country, in addition to two concrete plants and an agricultural lime production plant in Concepción.
“Cecon is undoubtedly the largest private investment at this time and probably in the country’s history,” celebrated businessman José Ortiz, president of Cementos Concepción, during the occasion.
? Cecon bond issue for market investment worth 20 million dollars
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The placement of Series 1 securities within Cecon SAE’s USD2 Global Bond Issuance Program has the following characteristics:
Series Numbering: 1 (One).
ISIN Code: PYCEC01F3409
Series Amount: USD. 20,000,000.00 (Twenty Million American Dollars with 00/100).
Interest rate: 6% (Six percent) per annum.
Maturity period: 2,184 (Two thousand one hundred and eighty-four) days.
Expiration Date: Friday, April 21, 2028
Capital Payment: At Maturity
Interest Payment: Quarterly.
In a conversation with the channel GEN – Nación Media, Ortiz mentioned that the issuance of bonds is an important tool to be able to support serious and qualified companies. “The seriousness of the process is important, it is a very serious and controlled tool. We have the solvency of Grupo Cartes, which generates a lot of confidence”, he added.
The businessman stressed that in the case of Cecon, all past bond issues were very successful and that this time there are many interested in participating.
“In Paraguay there is a large mass of money that is dispersed, and what this institution (Stock Exchange) does is organize the collection of that mass of money to guide important investments,” Ortiz explained.
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? News from Basa Capital
? They promote the development of the country with the issuance of bonds.
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