CEMEX Announces Pricing of U.S.$1.0 Billion in Senior Secured Notes
March 09 2016 - 10:30PM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today the
pricing of U.S.$1.0 billion of its 7.750% Senior Secured Notes due
2026 denominated in U.S. Dollars (the “Notes”).
The Notes will bear interest at an annual rate of 7.750% and
mature on April 16, 2026. The Notes will be issued at a price of
99.986% of face value and will be callable commencing on April 16,
2021. The closing of the offering is expected to occur on March 16,
2016, subject to satisfaction of customary closing conditions.
CEMEX intends to use the net proceeds from the offering of the
Notes to fund the redemption and/or repurchase of (i) the 9.875%
U.S. Dollar-Denominated Senior Secured Notes due 2019 issued by
CEMEX España, S.A., acting through its Luxembourg branch, on March
28, 2012, (ii) the 9.875% Euro-Denominated Senior Secured Notes due
2019 issued by CEMEX España, S.A., acting through its Luxembourg
branch, on March 28, 2012, and/or (iii) the 9.500% Senior Secured
Notes due 2018 issued by CEMEX on September 17, 2012, and the
remainder, if any, for general corporate purposes, including to
repay other indebtedness of CEMEX and its subsidiaries, all in
accordance with CEMEX’s credit agreement, dated as of September 29,
2014, as amended and restated (the “Credit Agreement”).
The Notes will share in the collateral pledged for the benefit
of the lenders under the 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 Corp., CEMEX
Finance LLC, Cemex Egyptian Investments B.V., Cemex Egyptian
Investments II B.V., CEMEX France Gestion (S.A.S.), Cemex Research
Group AG, Cemex Shipping B.V. 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
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. 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 DELIVERED
TO THE CNBV TO COMPLY WITH A LEGAL REQUIREMENT AND FOR 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 CEMEX’S SOLVENCY,
LIQUIDITY OR CREDIT QUALITY OR THE ACCURACY OR COMPLETENESS OF THE
INFORMATION SET FORTH IN THE 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/20160309006525/en/
CEMEX, S.A.B. de C.V.Media Relations:Jorge Pérez,
+52(81) 8888-4334mr@cemex.comorInvestor Relations:Eduardo
Rendón, +52(81) 8888-4256ir@cemex.comorAnalyst
Relations:Lucy Rodriguez,
+1-212-317-6007ir@cemex.com
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