Graña Y Montero: Three Financing Agreements Are Closed to Face the Debts of the GSP
28 Juni 2017 - 12:17AM
Business Wire
- Agreements with creditors establish
payment terms until 2020 and reaffirm the commitment to comply with
the obligations assumed in January 2017, due to the termination of
the concession contract.
Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company”
or “Graña y Montero”) a leading Engineering and Construction
company, announced today that has signed a medium term credit
agreement with a group of four international banks for US$ 78
million to cover the balance of the original US$ 130 million credit
assumed in January 2017. In addition, the Company signed an
addendum to the medium term syndicated loan agreement signed in
December 2015 with Credit Suisse for US$ 150 million, with an
outstanding amount to date of US$ 104 million. With the closing of
these two facilities, the process of refinancing the liabilities
generated by the cancellation of the GSP is completed and the
company's commitment to comply with the obligations assumed is
reaffirmed.
These Credit agreements are due in three years, with a mandatory
payment of 40% in the first year and an additional 30% in the
second year. The closing of these facilities, together with the
agreement signed in March with Chubb Insurance Peru, provides
financial stability to the Group, which will allow the normal
operation of its activities.
Luis Díaz Olivero, Graña y Montero’s Corporate CEO, indicated
that with the closing of these agreements the company's financial
risk was substantially reduced after the cancellation of the GSP
project. "It is a clear sign of confidence from the creditors, who
value the company’s actions," he said.
About Graña y Montero S.A.A.
Graña y Montero is the largest and most important Engineering
and Infrastructure Company in Peru. It has 24 companies which
operate in 5 countries in Latin America and has more than 28,000
employees. The Graña y Montero Group has always solved the needs of
its clients beyond business in order to create wellbeing for
society. It has been listed on the Lima Stock Exchange since 1997
and on the New York Stock Exchange since 2013.
To find out more, please visit www.granaymontero.com.pe.
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Graña y Montero S.A.A.Adriana Caballero, (511)
213-6573Investor
Relationsadriana.caballero@gym.com.perelacion.inversionistas@gym.com.pehttp://investorrelations.granaymontero.com.pe/orBelén
Masson, (511) 213-6565 Ext. 6453Investor Relations
Assistantbelen.masson@gym.com.perelacion.inversionistas@gym.com.pehttp://investorrelations.granaymontero.com.pe/
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