Cemex says bond sale still on, shares sink

Cemex says bond sale still on, shares sink
Published: 06 March 2009

Cemex said on Thursday that it still aims to issue US$500m in bonds internationally to help pay maturing debt, but its stock fell amid worries the company is struggling to sell the bonds, reports Reuters.

Cemex plans to use free cash flow and asset sales to pay for most of its US$4.1bn in debt maturing this year.

Reuters reported that Cemex declined to say when it would price the bonds. But investors in New York had expected the company to be ready to issue as early as this week.