Cemex to spend $400mn to repay bonds

Cemex is to spend US$400 million (€356.08 million) on bonds early repayment. The operation includes senior bonds with a 6.5% coupon maturing in 2019; senior notes with a yield of 9.37% due in 2022, and floating-rate senior bonds maturing in 2018.
Quarry Products / May 9, 2016

643 Cemex is to spend US$400 million (€356.08 million) on bonds early repayment.

The operation includes senior bonds with a 6.5% coupon maturing in 2019; senior notes with a yield of 9.37% due in 2022, and floating-rate senior bonds maturing in 2018.

Bonds maturing in 2018 register a circulating capital of US$498 million; senior notes maturing in 2019 reach US$965 million, and debt due in 2022 represents a circulating capital of US$1.41 billion.

The repayment of the latter has a limitation of US$150 million.

Cemex' offer will be open until 20 May, 2016.

The company seeks to reduce its debt by US$2 billion between 2016 and 2018.

For more information on companies in this article