CEMEX Obtains ‘Green’ Financing from IFC
July 12 2016 - 5:30PM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE:CX) announced today that
the International Finance Corporation (“IFC”) will grant CEMEX a
loan of approximately €106 million to support CEMEX’s sustainable
investment programs in emerging markets.
After a thorough assessment of CEMEX’s environmental, governance
and social practices, the IFC will grant CEMEX funding for projects
designed to enhance environmental performance that were completed
in 2014 & 2015 as well as ongoing during 2016 which are part of
the capital expenditure plan previously communicated by CEMEX.
Approximately 60% of the funds will be allocated for projects
related to the reduction of CEMEX’s greenhouse gas emissions, while
the remainder of the funds will be allocated to cover improvements
to CEMEX’s overall air emission controls.
“IFC’s support underscores and validates CEMEX’s sustainability
efforts and vision,” said Fernando A. Gonzalez, CEO of CEMEX. “We
are very proud and encouraged by this relationship, and we continue
to seek opportunities for further collaboration.”
“IFC’s financing to CEMEX sustainable programs is part of our
commitment to invest in critical climate-smart solutions across
emerging markets,” said Liz Bronder, IFC Director for Latin America
and the Caribbean. “We are encouraged by CEMEX’s innovative
initiatives and look forward to the company’s leadership expanding
the climate change agenda among global key players.”
The IFC is joining CEMEX’s facilities agreement dated September
29, 2014, as amended and restated (the “Credit Agreement”) maturing
in 2020. This transaction increases the currently outstanding
commitments under the Credit Agreement by approximately €106
million and diversifies CEMEX’s sources of funding.
IFC, a member of the World Bank Group, is the largest global
development institution focused on the private sector in emerging
markets. Working with more than 2,000 businesses worldwide, the IFC
uses its capital, expertise, and influence to create opportunity
where it is needed most. In fiscal year 2015, its long-term
investments in developing countries rose to nearly U.S.$18 billion,
helping the private sector play an essential role in the global
effort to end extreme poverty and boost shared prosperity.
CEMEX is a global building materials company that provides high
quality products and reliable service to customers and communities
in more than 50 countries. Celebrating its 110th anniversary, CEMEX
has a rich history of improving the well-being of those it serves
through innovative building solutions, efficiency advancements, and
efforts to promote a sustainable future.
For more information on IFC, please visit: www.ifc.org.
For more information on CEMEX, please visit: www.cemex.com.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties
and assumptions. Many factors could cause the actual results,
performance or achievements of CEMEX to be materially different
from those expressed or implied in this release, including, among
others, the non-formalization of the amendments to the Credit
Agreement required to formalize the transaction described in this
press release. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described
herein. CEMEX assumes no obligation to update or correct the
information contained in this press release. CEMEX is not
responsible for the content of any third-party website or webpage
referenced to or accessible through this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20160712006675/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.comorFor IFCMauricio Gonzalez,
+52(55) 3098-0248mgonzalezlara@ifc.org
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