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Colombia's Argos approves bond issue

Monday, October 6, 2014

The board of Colombia's Cementos Argos has authorized a bond issue of up to $493 million, proceeds from which will be used for working capital and debt payments, the company said in a statement.

Cementos Argos, the country's largest cement and concrete maker, will have three years to issue the paper.

Cementos Argos bonds are some of the most popular on the Colombian market and the money raised has helped the company fund expansion plans in Latin America and the United States.

Source: Reuters