The Mexican building materials company Cemex has announced the signing of a new five-year, US$3bn denominated syndicated revolving credit facility. According to the company, the proceeds from this financing—officially known as the 2026 Credit Agreement—will be used for general corporate purposes, including the refinancing of existing financial obligations for both the parent firm and its affiliates.
In an official statement, the cement manufacturer confirmed that the transaction maintains interest rate margins and financial commitments aligned with an investment-grade capital structure. Under the newly agreed terms, the facility establishes a maximum Consolidated Leverage Ratio, defined as consolidated net debt to consolidated EBITDA, of 3.75 times for the entire life of the loan. It also dictates a minimum Consolidated Coverage Ratio, calculated as consolidated EBITDA to interest expense, of 2.75 times.
All tranches of the financing include a spread over the Secured Overnight Financing Rate (SOFR) ranging between 85 and 137.5 basis points. The exact percentage applied will depend on Cemex’s prevailing credit rating, which ranges from BBB+/Baa1 or higher at the lower end to BB+/Ba1 or lower at the upper end.
The 2026 Credit Agreement is fully guaranteed by Cemex Corp. The company reported that it will be able to access the funds once standard regulatory and operational conditions are satisfied, which it expects to complete in the short term before 30 June 2026. The financial covenants stipulated in the agreement will be evaluated at the close of each quarter using consolidated amounts under International Financial Reporting Standards (IFRS). Cemex noted that its capacity to maintain these metrics and meet ongoing obligations could be influenced by broader economic conditions, exchange rate volatility, and shifting financial market trends.
