Cemex's debt strategy

643 Cemex says that as a result of a prepayment it has made, it has now reduced the initial exposure under its Financing Agreement by more than half (50.97%), or about US$7.66 billion.

Fernando A. González, executive vice president of Finance and Administration, said: "With this payment, we have now met the final prepayment milestone under the Financing Agreement to avoid a 50-basis-point increase in our interest expense. In addition, we have addressed all maturities under the Financing Agreement until December 2013 and continue to comply with all of our financial obligations."