Does Loma Negra (LOMA)'s Latest Bond Exchange Quietly Redraw Its Long-Term Risk Profile?

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Loma Negra (LOMA) recently conducted a bond exchange, issuing new Class 6 bonds and accepting Class 3 bonds as payment, reducing its Class 3 debt to US$40.29 million. This move aims to reshape the company’s debt profile amid challenges in Argentine construction activity and volatile macroeconomic conditions. While the exchange impacts future interest costs and balance sheet resilience, the company’s investment narrative remains tied to volume recovery and profitability in a challenging environment.

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