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Mexico’s Cemex to call 6½% dollar notes, 4¾% euro notes via new issue
By Susanna Moon
Chicago, Nov. 28 – Cemex, SAB de CV plans to redeem some of its $610.66 million outstanding 6½% senior secured notes due 2019 and €400 million 4¾% senior secured notes due 2022.
The redemption will be funded with proceeds of new euro-denominated senior secured notes, according to a company announcement attached to a 6-K filing with the Securities and Exchange Commission.
The 6½% notes were issued Aug. 12, 2013, and the 4¾% notes were issued Sept. 11, 2014.
The dollar notes are callable at a redemption price of 103.25% beginning Dec. 10, and the euro notes are callable at 102.375% beginning Jan. 11.
Any remaining proceeds of the new issue would be used for general corporate purposes, including to repay other debt or to temporarily reduce amounts outstanding under the company’s revolving credit facility or short-term bilateral facilities.
Cemex is a cement producer based in Monterrey, Mexico.
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