Cemex prepays MXN2.64bn in bonds

Cemex prepays MXN2.64bn in bonds
Published: 03 June 2010

Cemex said Wednesday night that it prepaid MXP2.64bn (US$206.7m) in bonds.

The early repayment follows a public cash tender offer from May 6 to June 2 to redeem outstanding bonds maturing between November 2010 and March 2011, Cemex said in a press release.

Cemex partially redeemed MXN483m in bonds due Nov. 5, 2010; MXN628m in bonds maturing November 26, 2010; and MXN1.53bn in two different series of bonds maturing March 10, 2011.

Cemex said it has sufficient funds available to conduct the offer after obtaining funding from the issuance of US$715m of five-year convertible notes on March 30.