CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today the pricing of U.S.$100 million of additional Floating Rate Senior Secured Notes due 2018 (the “Additional Floating Notes”) which will constitute part of the same series as the U.S.$400 million of Floating Rate Senior Secured Notes due 2018 (the “Original Floating Notes”) previously announced on September 25, 2013.
The closing of the offering of Additional Floating Notes is expected to occur on October 2, 2013, concurrently with the closing of the offering of the Original Floating Notes and the offering of the U.S.$1.0 billion of 7.25% Senior Secured Notes due 2021 previously announced on September 25, 2013 (together with the Original Floating Notes, the “Original Notes”), subject to satisfaction of customary closing conditions.
CEMEX intends to use the approximately U.S.$99.6 million of net proceeds from the offering of Additional Floating Notes, together with the approximately U.S.$1.394 billion of net proceeds from the offerings of Original Notes, to purchase any or all of the U.S.$825 million outstanding 9.50% Senior Secured Notes due 2016 (the “2016 Notes”), issued by CEMEX Finance LLC, and the remainder for general corporate purposes, including to purchase up to €150 million of the outstanding 9.625% Senior Secured Notes due 2017 (the “2017 Notes”), issued by CEMEX Finance LLC, to repay at maturity the 4.75% Notes due 2014, issued by CEMEX Finance Europe B.V., and/or to repay its other indebtedness. CEMEX currently expects to purchase the 2016 Notes at a price of approximately U.S.$1,062.50 for each U.S.$1,000 of 2016 Notes and to purchase the 2017 Notes at a price of approximately €1,063.50 for each €1,000 of 2017 Notes, in each case, plus accrued interest.
The Additional Floating Notes and the Original Notes (collectively, the “Notes”) will share in the collateral pledged for the benefit of the lenders under CEMEX’s Facilities Agreement, dated as of September 17, 2012, 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 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.
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