Cemex enters new US$1.35bn credit agreement

Cemex enters new US$1.35bn credit agreement
Published: 01 October 2014


Cemex SAB de CV announced it entered a new credit agreement for US$1.35bn with nine of the main lending banks from its Facilities Agreement of 17 September 2012.

The new agreement’s main terms include an average four-year term with equal semi-annual payments of principal of 20 per cent each, with a three-year grace period and September 2019 as the last payment date. In addition, there will be a spread over LIBOR of 250-375 basis points, depending on the level of leverage of the company, and a revolving credit tranche of 40 per cent of the total principal amount with the same maturity. Cemex will also enjoy more flexibility as certain covenants and undertakings have been improved.





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