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Cemex offers to buy back debt

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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

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