Cemex, S.A.B. de C.V announced today its intention to offer senior secured notes denominated in US Dollars, subject to market and other conditions.
Cemex intends to use the net proceeds from the offering of the Notes to fund the redemption and/or repurchase of:
- the 9.875% U.S. Dollar-Denominated Senior Secured Notes due 2019 issued by Cemex España, S.A., acting through its Luxembourg branch, on 28 March 2012.
- the 9.875% Euro-Denominated Senior Secured Notes due 2019 issued by Cemex España, S.A., acting through its Luxembourg branch, on March 28, 2012.
- the 9.500% Senior Secured Notes due 2018 issued by Cemex on 17 September 2012, and the remainder, if any, for general corporate purposes, including the repayment of indebtedness under Cemex’s credit agreement, dated as of 29 September 2014, as amended and restated entered into with several financial institutions, and/or other indebtedness, all in accordance with the Credit Agreement.
The April 2019 US Dollar Notes and the April 2019 Euro Notes become redeemable at the option of Cemex España, S.A., acting through its Luxembourg branch on April 30, 2016 at a redemption price of 104.94% of the principal amount thereof, plus accrued and unpaid interest through the redemption date.
The June 2018 U.S. Dollar Notes become redeemable at the option of Cemex on 15 June 2016 at a redemption price of 104.750% of the principal amount thereof, plus accrued and unpaid interest through the redemption date.
The Notes would share in the collateral pledged for the benefit of the lenders under the Credit Agreement and other secured obligations having the benefit of such collateral, and would be guaranteed by Cemex México, S.A. de C.V., Cemex Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V., New Sunward Holding B.V., Cemex España, S.A., Cemex Asia B.V., CEMEX Corp., CEMEX Finance LLC, Cemex Egyptian Investments B.V., Cemex Egyptian Investments II B.V., Cemex France Gestion (S.A.S.), Cemex Research Group AG, Cemex Shipping B.V. and Cemex UK.
Read the article online at: https://www.worldcement.com/the-americas/10032016/cemex-announces-offering-senior-secured-notes-666/