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Fixed Income

In order to support the process of expansion and consolidation, Cementos Argos has used different sources of funding. In the year 2005 and 2009, the Company conducted an issuance in Colombia of COP$600 billion and COP$640 billion in ordinary bonds.

These bonds were successfully placed in the Colombian stock market in two tranches; one in November 2005 for COP$450 billion with maturities in 2012, 2015 and 2017; and the other in February 2007 for COP$150 billion due in 2017. A second issuance of Colombian bonds was carried out on April 2009, for a total amount of COP$ 640 billion. These bonds were placed in maturities of 3, 5, 7, 10 and 15 years.

In march 2012, a program of Colombian bonds and/or commercial papers for up to COP$1.000 billion was approved by the Financial Superintendence of Colombia (Superintendencia Financiera de Colombia). The first issue of this program was successfully conducted on April 11th 2012, with three series of 18, 24 and 36 months for a total amount of COP$300 billion. The remaining amount of COP$700 billion was placed on May 16, 2012 with maturities of 6, 10 and 15 years.

In November 2014, the Financial Superintendence of Colombia (Superintendencia Financiera de Colombia) approved the renewal of the term and the increase of the global limit of the ordinary bonds and/or commercial papers program of March 2012, for an additional amount of up to COP$1.000 billion, from which a total amount of COP$600 billion was successfully placed on Nov 27, 2014 with maturities of 2, 10 and 15 years.

In April 2016, the remaining of the program for COP$400 billion in ordinary bonds, were fully placed the 13th of April 2016, with maturities of 5, 10 and 15 years.

In April 2017, the Superintendencia Financiera de Colombia approved the increase in the global quota of the bond and/or commercial paper program, for an additional value of COP$ 1.000 billion. 

In May 2017,  COP$ 1.000 billion in ordinary bonds were fully placed with three series of 6,13 and 25 years. 

Following is the link to access the rating report: https://www.argos.co/ir/Media/Default/images/30082017_Calificación_Emisiones_Valores.pdf

Security Place Nominal Value Value Outstanding Placement Maturity Face value  Rating Rating Agency Securities Allocation
Bonds and Public Offer Announcement Colombia 211,355,000,000 211,355,000,000 24-may-17 24-may-23 6,65% EA AA+ Stable Outlook FitchRatings 211,355 Debt replacement
Bonds and Public Offer Announcement Colombia 388,145,000,000 388,145,000,000 24-may-17 24-may-30 IPC + 3,64% EA AA+ Stable Outlook FitchRatings 388,145 Debt replacement
Bonds and Public Offer Announcement Colombia 400,500,000,000 400,500,000,000 24-may-17 24-may-42 IPC + 3,99% EA AA+ Stable Outlook FitchRatings 400,500 Debt replacement
Bonds And Public Offer Announcement Colombia 94,768,000,000 94,768,000,000 13-apr-16 13-abr-21 IPC + 3,74% EA

AA+ Stable Outlook
FitchRatings 94,768 Debt replacement
Bonds And Public Offer Announcement Colombia

121,075,000,000

121,075,000,000

13-apr-16

13-abr-26

IPC + 4,19% EA

AA+ Stable Outlook FitchRatings

121,075

Debt replacement
Bonds And Public Offer Announcement Colombia

184,157,000,00

184,157,000,000

13-apr-16

13-abr-31

IPC + 4,47% EA

AA+ Stable Outlook FitchRatings

184,157

Debt replacement
Bonds And Public Offer Announcement Colombia

190.675.000.000

190.675.000.000

27-nov-14

27-nov-24

IPC + 3,8% EA

AA+ Stable Outlook FitchRatings

190.675

Working capital and/or replacement of financial liabilities
Bonds And Public Offer Announcement Colombia

311.707.000.000

311.707.000.000

27-nov-14

27-nov-29

IPC + 4,21% EA

AA+ Stable Outlook FitchRatings

311.707

Working capital and/or replacement of financial liabilities
Bonds And Public Offer Announcement Colombia

97.022.000.000

97.022.000.000

16-may-12

16-may-18

IPC + 3,80% EA

AA+ Stable Outlook FitchRatings

97.022

Working capital and/or replacement of financial liabilities
Bonds And Public Offer Announcement Colombia

299.896.000.000

299.896.000.000

16-may-12

16-may-22

IPC + 4,24% EA

AA+ Stable Outlook FitchRatings

299.896

Working capital and/or replacement of financial liabilities
Bonds And Public Offer Announcement Colombia

303.082.000.000

303.082.000.000

16-may-12

16-may-27

IPC + 4,50% EA

AA+ Stable Outlook FitchRatings

303.082

Working capital and/or replacement of financial liabilities
Bonds And Public Offer Announcement Colombia

229.530.000.000

229.530.000.000

28-apr-09

28-abr-24

IPC + 7,19% EA

AA+ Stable Outlook FitchRatings

229.530

Replacement of Financial Liabilities
Bonds And Public Offer Announcement Colombia

70.350.000.000

70.350.000.000

28-apr-09

28-abr-19

IPC + 6,3% EA

AA+ Stable Outlook FitchRatings

70.350

Replacement of Financial Liabilities