Grupo Unacem successfully issued $360 million in municipal bonds to refinance its California acquisition, enhancing its financial strategy and operational capacity in North America.

Information on the Target

Grupo Unacem, a notable player in the construction materials sector, has recently completed a significant financial transaction by issuing municipal bonds totaling $360 million through its subsidiary, Unacem North America. The issuance occurred on December 16, 2025, and is primarily aimed at refinancing the acquisition of Tehachapi, California. This move underlines Unacem's strategic efforts to enhance its financial stability and increase its operational capacity in North America.

The bonds, categorized as "Variable Rate Demand Revenue Bonds," come with a competitive initial interest rate of 3.80% per annum and feature a 20-year bullet maturity structure. The issuer, California's Economic Development Authority (CEDA), along with J.P. Morgan Securities LLC, facilitated this transaction, marking a step forward in Unacem's long-term financial strategy.

Industry Overview in the Target’s Specific Country

The construction materials industry in the United States is characterized by robust demand driven by ongoing infrastructure projects, private sector investments, and a growing residential constr