CEMEX Announces Pricing of €650 Million of Senior Secured Notes
November 28 2017 - 4:30PM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE:CX) announced today the
pricing of €650 million of its 2.750% Senior Secured Notes due 2024
denominated in Euros (the “Notes”).
The Notes will bear interest at an annual rate of 2.750% and
mature on December 5, 2024. The Notes will be issued at a price of
100.000% of face value and will be callable commencing on December
5, 2020. The closing of the offering is expected to occur on
December 5, 2017, subject to satisfaction of customary closing
conditions.
CEMEX intends to use the net proceeds from the offering of the
Notes to fund the redemption of all or a portion of (i)
U.S.$610,660,000 outstanding aggregate principal amount of the
6.500% Senior Secured Notes due 2019 issued by CEMEX on August 12,
2013 and/or (ii) €400,000,000 outstanding aggregate principal
amount of the 4.750% Senior Secured Notes due 2022 issued by CEMEX
on September 11, 2014, and the remainder, if any, for general
corporate purposes, including to repay other indebtedness, all in
accordance with CEMEX’s facilities agreement, dated as of July 19,
2017 (the “2017 Credit Agreement”), entered into with several
financial institutions. Pending such application, proceeds may also
be applied to temporarily reduce amounts outstanding under the
revolving credit facility tranche of the 2017 Credit Agreement or
short-term bilateral facilities.
The Notes will share in the collateral pledged for the benefit
of the lenders under the 2017 Credit Agreement and other secured
obligations having the benefit of such collateral, and will be
guaranteed by CEMEX México, S.A. de C.V., CEMEX Concretos, S.A. de
C.V., Empresas Tolteca de México, S.A. de C.V., New Sunward Holding
B.V., CEMEX España, S.A., Cemex Asia B.V., CEMEX Finance LLC, CEMEX
Corp., Cemex Egyptian Investments B.V., CEMEX France Gestion
(S.A.S.), Cemex Research Group AG and CEMEX UK.
This release is neither an offer to purchase nor a solicitation
of an offer to sell or buy any securities of CEMEX in any
transaction.
The Notes and the guarantees thereof have not been and will
not be registered under the U.S. Securities Act of 1933, as amended
(the “Securities Act”), or any state securities laws, and they may
not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements of the
Securities Act. The Notes are being offered only to qualified
institutional buyers pursuant to Rule 144A and outside the United
States pursuant to Regulation S, both as promulgated under the
Securities Act.
THE NOTES HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE
NATIONAL SECURITIES REGISTRY (REGISTRO NACIONAL DE VALORES),
MAINTAINED BY THE MEXICAN NATIONAL BANKING AND SECURITIES
COMMISSION (COMISIÓN NACIONAL BANCARIA Y DE VALORES, OR CNBV), AND
THEREFORE MAY NOT BE OFFERED OR SOLD PUBLICLY IN MEXICO, EXCEPT
THAT THE NOTES MAY BE OFFERED AND SOLD IN MEXICO, PURSUANT TO THE
PRIVATE PLACEMENT EXEMPTION SET FORTH IN ARTICLE 8 OF THE MEXICAN
SECURITIES MARKET LAW (LEY DEL MERCADO DE VALORES), TO
INSTITUTIONAL AND QUALIFIED INVESTORS AS DEFINED UNDER MEXICAN LAW
AND RULES THEREUNDER. UPON THE ISSUANCE OF THE NOTES, WE WILL
NOTIFY THE CNBV OF THE ISSUANCE OF THE NOTES, INCLUDING THE
PRINCIPAL CHARACTERISTICS OF THE NOTES AND THE OFFERING OF THE
NOTES OUTSIDE MEXICO. SUCH NOTICE WILL BE SUBMITTED TO THE CNBV TO
COMPLY WITH ARTICLE 7, SECOND PARAGRAPH OF THE MEXICAN SECURITIES
MARKET LAW AND FOR STATISTICAL AND INFORMATION PURPOSES ONLY, AND
THE DELIVERY TO AND THE RECEIPT BY THE CNBV OF SUCH NOTICE, DOES
NOT CONSTITUTE OR IMPLY ANY CERTIFICATION AS TO THE INVESTMENT
QUALITY OF THE NOTES OR OF OUR SOLVENCY, LIQUIDITY OR CREDIT
QUALITY OR THE ACCURACY OR COMPLETENESS OF THE INFORMATION SET
FORTH IN DOCUMENTS USED FOR THE OFFERING. THE INFORMATION CONTAINED
IN THE DOCUMENTS USED FOR THE OFFERING OF THE NOTES IS THE
EXCLUSIVE RESPONSIBILITY OF CEMEX AND HAS NOT BEEN REVIEWED OR
AUTHORIZED BY THE CNBV.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties,
and assumptions. No assurance can be given that the transactions
described herein will be consummated or as to the ultimate terms of
any such transactions. CEMEX assumes no obligation to update or
correct the information contained in this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20171128006413/en/
CEMEX, S.A.B. de C.V.Media Relations:Jorge Perez,
+52(81) 8888-4334mr@CEMEX.comorInvestor Relations:Eduardo
Rendon, +52(81) 8888-4256ir@CEMEX.comorAnalyst
Relations:Lucy Rodriguez, +1(212)
317-6007ir@CEMEX.com
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