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.
Read the article online at: https://www.worldcement.com/the-americas/26042016/cemex-offers-buy-back-debt-972/