Agricultural Bank of China provides $25,000,000 loan to Cimento Tupi S.A.

On January 8 2013, the Agricultural Bank of China loaned $25,000,000 USD to Cimento Tupi S.A., a Brazilian cement and concrete products company. The Brazil Central Bank lists the loan registration as complete. According to the Cimento Tupi S.A. Financial Statements for December 2013 (pgs 35, 36, 51), the interest rate is 12-month Libor (0.683%) + 2.80% = 3.483%. The principal is to be paid semi-annually from August 20, 2014 and the interest will be paid semi-annually from February 20, 2013. The final maturity is February 20, 2017 (four years). The same document implies that the transaction is connected to a loan agreement for the expansion of the Pedra do Sino plant. As of a 2017 financial report published by Cimento Tupi S.A., the company had missed principal and interest payments due August 2015, February and August 2016, and February 2017.

Additional details

1. The Central Bank of Brazil lists the amount as $25,000,000 USD. The source from Cimento Tupi S.A. is taken as the more reliable source, and the transaction amount follows what Cimento Tupi S.A. reported.

Number of official sources

3

Number of total sources

3