The resolution, approved at an extraordinary general shareholders meeting, will allow the subscription and payment of CPOs to be carried out by a public offering or through issuing convertible bonds, either of which would have to be done within a period of 24 months.
In August, Cemex completed its plan to refinance some US$15.5bn of outstanding debt, corresponding to syndicated and bilateral obligations.
The refinancing plan extends the maturities of these liabilities with approximately 75 banks and private placement note holders, providing for a semi-annual amortization schedule, with a final maturity of February 14, 2014.
