In the first quarter of 2023, Grupo Argos maintained its growth path with financial results that grew above 25%, as a result of a positive performance of all its operations.
Grupo Argos formalises COP392bn sustainable linked loan 28 April 2021
Grupo Argos and Bancolombia signed the first loan agreement tied to sustainability indicators in Colombia, where the interest rate is tied to the company’s performance on gender equality and climate change, in a financing agreement that modifies current conditions for close to COP392bn (US$106m) in debt and will have a five-year maturity. In this regard, the operation does not increase Grupo Argos current levels of indebtedness.
This transaction recognises Grupo Argos track record and its sustainability strategy, allowing it to obtain a competitive financing advantage and tied to compliance with environmental, social and governance (ESG) indicators that the company has been working on for over five years. Annually, Grupo Argos must report progress made with meeting gender equality and climate change goals defined under the terms of the loan to receive the benefit of a reduced interest rate.
Grupo Argos secures US$108m sustainability and gender equality-linked loan from Bancolombia Written by Global Cement staff
27 April 2021
Colombia: Bancolombia has granted a US$108m loan to Grupo Argos. The loan’s interest rate is linked to two indicators, namely greenhouse gas emissions reductions and the increase in participation by women in the group’s upper management. These factors can decrease the interest rate by up to 100 basic points. The group said that signing the deal constitutes another milestone in realising its environmental, social and governance (ESG) commitment. The financing agreement modifies current conditions for debt and will have a five-year maturity. As such, it does not increase Grupo Argos’ current levels of indebtedness.