The bond issuance provides near-term liquidity but increases leverage at a time when earnings are collapsing. Monitor the controlling shareholder's sale process and any further deterioration in cement pricing or margins in the next quarterly report.
Price Chart
Executive Summary
Loma Negra closed a $150 million bond issuance (Class 7 negotiable bonds) under its existing $500 million program, with a 6.25% coupon and 3-year bullet maturity. This debt raise provides liquidity but adds leverage against a backdrop of sharply deteriorating fundamentals — FY2025 revenue fell 7.8% and net profit plunged 88.7% — and ongoing ownership uncertainty from the controlling shareholder's judicial reorganization.
Key Facts
- Closed public placement of Class 7 negotiable bonds with face value of US$150,000,000
- Interest rate of 6.25% per annum
- Issuance price at 100% of face value
- Issuance and liquidation date: October 22, 2026
- Maturity: 36 months from issue date, bullet amortization
- Bonds are non-convertible into shares, issued under a program for up to US$500,000,000
- FY2025 annual report (20-F) showed revenue fell 7.8% to Ps. 848,087 million and net profit plunged 88.7% to Ps. 22,821 million
- Gross margin contracted 493bps to 21.8% in FY2025
- Indirect controlling shareholder's judicial reorganization confirmed, introducing new shareholders and potential sale process
Financial Impact
US$150 million new debt at 6.25% fixed rate, 3-year bullet maturity
Risk Factors
- Increased leverage from US$150M new debt amid 88.7% net profit decline
- Ownership uncertainty from controlling shareholder's judicial reorganization and potential sale process
- Continued margin compression from softer cement and concrete pricing
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001711375-26-000047 |
| Document: notificacinhroneng.htm | 0001711375-26-000047 |
| Document: 0001711375-26-000047-index-headers.html | 0001711375-26-000047 |
| Document: 0001711375-26-000047-index.html | 0001711375-26-000047 |
| Document: 0001711375-26-000047.txt | 0001711375-26-000047 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 6-K | $9.65 $9.64 | ▲ +0.10% | ▲ +0.63% | $9.35 (+3.06%) |
Aug 12, 2026 10w ago | 6-K | $9.68 $9.50 | ▼ −1.86% | ▼ −2.56% | $9.35 (−3.36%) |
May 8, 2026 24w ago | 6-K | $11.02 $10.95 | ▼ −0.64% | ▼ −0.87% | $9.35 (−15.11%) |
May 5, 2026 24w ago | 6-K | $11.70 $11.10 | ▼ −5.13% | ▼ −4.80% | $9.35 (−20.04%) |
May 4, 2026 25w ago | 6-K | $11.29 $11.70 | ▲ +3.63% | ▲ +2.25% | $9.35 (−17.14%) |
Apr 28, 2026 25w ago | 20-F | $10.86 $11.04 | ▼ −1.66% | ▼ −0.63% | $9.35 (+13.86%) |
Apr 24, 2026 26w ago | 6-K | $11.12 $10.80 | ▼ −2.88% | ▼ −3.04% | $9.35 (−15.87%) |
Apr 6, 2026 29w ago | 6-K | $11.46 $11.45 | ▼ −0.09% | ▼ −0.15% | $9.35 (−18.37%) |
Mar 31, 2026 29w ago | 6-K | $11.09 $11.07 | ▼ −0.18% | ▼ −0.26% | $9.35 (−15.64%) |
US Market Status
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