Cemex offers to buy back debt
Published by Joseph Green,
Editor
World Cement,
Reuters are reporting that Mexican cement maker Cemex has announced that it has launched an offer to buy back up to US$400 million of debt on senior note issues due to mature in 2018, 2019 and 2022.
The company announced in a statement the offer was for its 2018 floating rate notes, its 2019 notes bearing a 6.5% coupon and the 9.375% notes falling due in 2022.
However, Cemex did note that it would not buy back more than US$150 million of the 2022 debt.
Cemex said the offer would expire on 20 May, while notes tendered before 8am on 9 May would be eligible for an early tender premium.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/the-americas/26042016/cemex-offers-buy-back-debt-972/
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