The company will price the senior secured notes due 2018 by January 11. Price talk on the notes indicates a coupon of 9% and an OID of 99.36. Cemex said it would use the proceeds for general corporate purposes, which could include repayment of outstanding debt
Standard & Poor’s assigned a B rating to the proposed bonds. The rating agency also affirmed the company’s B corporate credit rating.
Last year Cemex issued $1.5 billion in 9.25% senior notes due 2020 and in 2009 priced US$1.25bn in 9.5% senior notes due 2016. The company also has several tranches of peso and euro-denominated bonds.
