Noteholders agree to Cemex debt buyback

Noteholders agree to Cemex debt buyback
Published: 06 October 2004

Cemex said on Tuesday a majority of note holders agreed to its debt buyback offer for its 2009 notes and extended the consent date for its cash tender offer period on other debt due in 2006.  Cemex last month launched a cash offer to buy back $291.6 million in two tranches of debt. One was for $200 million in notes due 2009 and the other for $91.6 million maturing in 2006.  Noteholders who consented to sell back the 2009 debt will receive a $10 commission above the tender offer price of $1.211.10 for each $1,000 of principal.  Cemex, which operates in more than 30 countries, said in a statement it also extended the consent date for the 2006 notes to Oct. 14 from Monday’s original deadline.  Cemex said it will pay $1,168.88 per $1,000 of principal for the 2006 notes. The amount includes a commission of $5.