Narrative
Full Description
Project narrative
In June 2016, Loma Negra Companía Industrial Argentina S.A. (Loma Negra C.I.A.S.A.) signed a $50 million loan agreement with the Dubai Branch of the Industrial and Commercial Bank of China (ICBC) for unspecified purposes (captured via Record ID#98580). The loan carried an interest rate of 3-month LIBOR plus a 5% margin, a 1-year grace period, and a 3.5-year maturity. The borrower was responsible for make principal payments to the lender in five equal, half-yearly installments. Then, in May 2019, the borrower and lender amended the loan agreement such that the borrower would be responsible for paying outstanding principal ($13,000,000) in nine payments, with the first installment of $5,200,000 in October 2020 and eight more equal, quarterly installments of $975,000 (with the last coming due in November 2023). This rescheduling is captured via Record ID#105815