Mexico’s Cemex tenders for up to $500 million of 7¼% notes due 2021

By Susanna Moon

Chicago, Sept. 30 – Cemex SAB de CV began tendering for up to $500 million of its $1 billion outstanding 7¼% senior secured notes due 2021 on Thursday, according to a 6-K filing with the Securities and Exchange Commission.

The total purchase price will be $1,075 for each $1,000 principal amount of notes tendered by 8 a.m. ET on Oct. 14, the early tender date.

Holders who tender after the early deadline will receive the total amount less the $30.00 early premium, or $1,045 per $1,000 of notes.

The tender offer will end at 11:59 p.m. ET on Oct. 27. Tendered notes may be withdrawn by the early deadline.

The company also will pay accrued interest to but excluding the settlement date.

The offer is contingent on the company having drawn $500 million under its facilities, the filing noted.

The total outstanding amount includes $31,382,000 principal amount of notes held by Cemex.

Notes tendered before the early deadline will be accepted for purchase over those tendered afterward. If the offer is oversubscribed as of the early deadline, the company said it reserves the right to reject any notes tendered afterward.

BNP Paribas Securities Corp. (888 210-4358, 212 841-3561 or 212 841-3059) and Credit Agricole Securities (USA) Inc. (866 807-6030, 212 261-1924 or 212 261-7802) are the dealer managers. Global Bondholder Services Corp. (866 470-3700 or 212 430-3774) is the information agent and tender agent.

Cemex is a cement producer based in Monterrey, Mexico.

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