Graña y Montero Closes Agreement With Peruvian Banks to Obtain a Credit Line for US$ 262.1 million
July 31 2017 - 11:54PM
Business Wire
Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company”
or “Graña y Montero”) a leading Engineering and Construction
company, announced today it signed an agreement with five banks
(Banco de Crédito del Perú, Scotiabank, Interbank, Citibank Peru
and BBVA) to provide a US $ 162.1 million credit line to GyM, the
construction company of the Group, and an additional line of US$
100 million in order to develop future projects of the company.
Luis Díaz Olivero, Chief Executive Officer, said: "With this
agreement, the Group strengthens the working capital of the
construction company and guarantees the financial solvency of the
company for the execution of our backlog."
It is worth mentioning that on June 27, 2017, the Group managed
to close all of its agreements with the financial creditors of the
Peruvian Southern Gas Pipeline project (GSP), establishing payment
deadlines for the debt of GSP until 2020.
Diaz emphasized that "with the important agreement signed today,
we have successfully completed a stage of financing negotiations
with both national and international banks, which reaffirms the
confidence of financial institutions in the future of Graña y
Montero Group."
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version on businesswire.com: http://www.businesswire.com/news/home/20170731006372/en/
Graña y Montero S.A.A.Samantha Ratcliffe, (511) 213-6573Head of
Investor
Relationssamantha.ratcliffe@gym.com.perelacion.inversionistas@gym.com.pehttp://investorrelations.granaymontero.com.pe/
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