Graña Y Montero: Three Financing Agreements Are Closed to Face the Debts of the GSP

  • Agreements with creditors establish payment terms until 2020 and reaffirm the commitment to comply with the obligations assumed in January 2017, due to the termination of the concession contract.

LIMA, Peru--()--Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company” or “Graña y Montero”) a leading Engineering and Construction company, announced today that has signed a medium term credit agreement with a group of four international banks for US$ 78 million to cover the balance of the original US$ 130 million credit assumed in January 2017. In addition, the Company signed an addendum to the medium term syndicated loan agreement signed in December 2015 with Credit Suisse for US$ 150 million, with an outstanding amount to date of US$ 104 million. With the closing of these two facilities, the process of refinancing the liabilities generated by the cancellation of the GSP is completed and the company's commitment to comply with the obligations assumed is reaffirmed.

These Credit agreements are due in three years, with a mandatory payment of 40% in the first year and an additional 30% in the second year. The closing of these facilities, together with the agreement signed in March with Chubb Insurance Peru, provides financial stability to the Group, which will allow the normal operation of its activities.

Luis Díaz Olivero, Graña y Montero’s Corporate CEO, indicated that with the closing of these agreements the company's financial risk was substantially reduced after the cancellation of the GSP project. "It is a clear sign of confidence from the creditors, who value the company’s actions," he said.

About Graña y Montero S.A.A.

Graña y Montero is the largest and most important Engineering and Infrastructure Company in Peru. It has 24 companies which operate in 5 countries in Latin America and has more than 28,000 employees. The Graña y Montero Group has always solved the needs of its clients beyond business in order to create wellbeing for society. It has been listed on the Lima Stock Exchange since 1997 and on the New York Stock Exchange since 2013.

To find out more, please visit www.granaymontero.com.pe.

Contacts

Graña y Montero S.A.A.
Adriana Caballero, (511) 213-6573
Investor Relations
adriana.caballero@gym.com.pe
relacion.inversionistas@gym.com.pe
http://investorrelations.granaymontero.com.pe/
or
Belén Masson, (511) 213-6565 Ext. 6453
Investor Relations Assistant
belen.masson@gym.com.pe
relacion.inversionistas@gym.com.pe
http://investorrelations.granaymontero.com.pe/

Contacts

Graña y Montero S.A.A.
Adriana Caballero, (511) 213-6573
Investor Relations
adriana.caballero@gym.com.pe
relacion.inversionistas@gym.com.pe
http://investorrelations.granaymontero.com.pe/
or
Belén Masson, (511) 213-6565 Ext. 6453
Investor Relations Assistant
belen.masson@gym.com.pe
relacion.inversionistas@gym.com.pe
http://investorrelations.granaymontero.com.pe/