Cemex Announces the Successful Reopening and Placement of Its Sustainability- Linked Long-Term Notes
February 16, 2024 at 04:17 pm EST
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Cemex, S.A.B. de C.V. announced the successful reopening and placement on February 16, 2024 of its sustainability-linked long-term notes (certificados bursátiles de largo plazo) for a nominal amount of $5.5 billion Mexican pesos. The settlement is expected to occur on February 20, 2024, subject to satisfaction of customary closing conditions. The reopening and placement of the Notes was made for the two available series: the first one was executed with respect to the issuance with ticker symbol CEMEX 23L for an amount of $2 billion Mexican pesos with an approximately 2.6-year tenor at a floating annual interest rate of TIIE 28 plus 0.45%, and the second one was executed with respect to the issuance with ticker symbol CEMEX 23-2L for an amount of $3.5 billion Mexican pesos with an approximately 6.6-year tenor at an annual yield of 10.66%.
The Notes are guaranteed by Cemex Concretos, S.A. de C.V., Cemex Operaciones México, S.A. de C.V., Cemex Corp. and Cemex Innovation Holding Ltd. The net proceeds from the reopening of these issuances will be used to pay down debt, aiming to accelerate Cemex?s path to investment grade credit ratings.
Cemex SAB de CV is a Mexico-based operating and holding company primarily engaged, directly or indirectly, through subsidiaries, in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other globally provided construction materials. The construction-related services supply customers and communities in over 50 countries throughout the world. The Company operates in various locations, including Mexico, the United States, Europe, South America, Central America, the Caribbean, Asia, the Middle East and Africa. The cement production facilities are located in Mexico, the United States, Spain, Egypt, Germany, Colombia, the Philippines, Poland, the Dominican Republic, the United Kingdom, Panama, Puerto Rico, Thailand and Nicaragua. The Company is a supplier of aggregates, primarily the crushed stone, sand and gravel, used in various forms of construction.