Western Cement (02233) issued a notice on February 2, 2026. The Company and the Subsidiary Guarantors entered into a purchase agreement with J. P. Morgan Securities (Asia Pacific) Limited (J. P. Morgan) in connection with the Notes Issue in the aggregate principal amount of US $300 million.
Subject to the completion of certain conditions, the Company will issue the Notes in an aggregate principal amount of US $300 million and the Notes will mature in November 2029, unless earlier redeemed pursuant to the terms of the Notes.
The Company intends that the net proceeds of the Notes Issue (after deducting the underwriting commissions and other expenses payable by the Company in connection with the Notes Issue) together with cash on hand will be used to repurchase, redeem or repay the Company's existing indebtedness (including the 2026 Notes pursuant to a simultaneous tender offer or through redemption) and as working capital (including current liabilities).
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