Cemex announces offering of senior secured notes

Cemex announces offering of senior secured notes
Published: 25 March 2014


Cemex announced today that Cemex Finance LLC (the Issuer), an indirect wholly-owned subsidiary of Cemex España, intends to offer senior secured notes in one or more series denominated in euros, subject to market and other conditions.

Contemporaneous with the offering of the euro notes, the Issuer also may offer senior secured notes in one or more series denominated in US dollars, subject to market and other conditions, the company said in a statement.

Cemex intends to use the net proceeds from the offering of the euro notes to retire
(i) the EUR130,000,000 remaining aggregate principal amount outstanding of 9.625 per cent senior secured notes due 2017, issued by the Issuer, and
(ii) the EUR115,346,000 remaining aggregate principal amount outstanding of 8.875 per cent senior secured notes due 2017, issued by Cemex España, acting through its Luxembourg branch, and the remainder, if any, for general corporate purposes, including the repayment of indebtedness.

If the US dollar notes are issued, Cemex intends to use the net proceeds from the offering to purchase a portion of
(i) the 9.250 per cent senior secured notes due 2020, issued by Cemex España, acting through its Luxembourg branch (the “2020 Ceme España Dollar Notes”), and
(ii) the 9.000 per cent senior secured notes due 2018 issued by Cemex (the “2018 CEMEX Dollar Notes”), with the 2020 CEMEX España Dollar Notes having priority, and the remainder, if any, for general corporate purposes, including the repayment of indebtedness.

Cemex currently expects that the purchase price of the 2020 Cemex España Dollar Notes would be approximately U.S.$1,102.50 for each U.S.$1,000 principal amount and that the purchase price of the 2018 Cemex dollar notes would be approximately US$,092.50 for each US$1000 principal amount, in each case, plus accrued interest.