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/
You might also like
The World Cement Podcast
In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.
Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.
Shaping The Future Through Shredding
Gary Moore, UNTHA Shredding Technology GmbH, highlights the global momentum behind alternative fuels and the role of advanced shredding in shaping cement’s low-carbon future.
