Mexico-based Cemex has launched an international bond offering of up to US$1.5bn through senior unsecured notes guaranteed by subsidiary Cemex Corp.
The 10-year notes will carry a fixed annual coupon of 5.75 per cent, with proceeds earmarked for general corporate purposes, including debt repayment, working capital and capital expenditure.
The issuance comes as Cemex seeks to manage its debt maturity profile, with approximately US$1.4bn, or 23 per cent of total debt, due between 2026 and 2027.
At the end of the first quarter of 2026, Cemex reported total debt of US$6.24bn and a net debt-to-EBITDA ratio of 2.3x. The company said the transaction forms part of its ongoing balance sheet management strategy.
The notes have been assigned investment-grade ratings of BBB- by both S&P Global Ratings and Fitch Ratings. S&P said the issuance is not expected to affect Cemex’s leverage profile, while Fitch highlighted the company’s cash generation and financial discipline.
Bank of America Securities, Citigroup, Crédit Agricole CIB, J.P. Morgan, Mizuho and SMBC Nikko are acting as global coordinators for the transaction.
