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.
WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.
World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.
Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.
The cement industry has recently recognised Roanoke Cement Company (RCC) with top honours for Outreach in the 2020 Portland Cement Association (PCA) Cement Industry Energy and Environment Awards.
Cemex and BirdLife, who formed a global biodiversity conservation partnership in 2007, held a ceremony endorsing the European Union’s Nature Conservation Policy.
