Cemex prices US$600m in notes, Mexico

Cemex on Thursday priced six-year secured notes for US$600m to pay down debt.

The notes, due 2019, to be issued at par, will pay annual interest of 5.875 per cent and will be callable after three years. It expects the sale to close on 25 March, the Mexican cement major said in a statement.

The company plans to use about US$55m to pay off a 2009 financing agreement and the rest for other purposes including reducing additional debt.

Meanwhile, Cemex invited holders of around EUR430m in 4.75 per cent euro-denominated notes due 2014 to tender up to EUR200m  for Cemex to buy back in cash, the company said in a separate filing with the Mexican stock exchange.