Cemex completes cash tender offers

Cemex has completed cash tender offers for its 12.75% notes due 2006 and 9.625% notes due 2009, it announced.

Holders of the 2006 notes tendered US$39.8mn of the 2006 notes, representing 43.4% of the total 2006 notes outstanding, while holders of the 2009 notes tendered US$139mn, representing 69.2% of the total 2009 notes outstanding, said the release.

Cemex is Mexico’s largest cement maker and sells cement and ready-mix throughout Latin America, the Caribbean the US, Spain, Egypt and Asia, including the Philippines, Thailand, Taiwan and Bangladesh.

The company posted US$635mn in Ebitda in the second quarter of this year, up 15% YoY, while net sales grew 5% to US$1.9bn thanks to healthier economics worldwide and cement and ready-mix price recoveries.