Cemex announced today the pricing of US$1bn of senior secured notes denominated in US dollars.
Cemex intends to use the approximately US$995m of net proceeds from the offering to purchase a portion of the 9.50 per cent Senior Secured Notes due 2016 issued by Cemex Finance LLC, and the remainder, if any, for general corporate purposes, including the repayment of other indebtedness. Cemex currently expects to purchase a portion of the 2016 notes at a price of approximately US$1075 for each US$1000 of 2016 notes plus accrued interest.
The notes will bear interest at an annual rate of 6.5 per cent and mature on 10 December 2019. The notes will be issued at par and will be callable commencing on 10 December 2017. The closing of the offering is expected to occur on 12 August 2013, subject to satisfaction of customary closing conditions.