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CEMEX Announces Offering Of Senior Secured Notes

Stocks in this article: CX

CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that CEMEX Finance LLC (the “Issuer”), an indirect wholly-owned subsidiary of CEMEX España, S.A. (“CEMEX España”), intends to offer senior secured notes in one or more series denominated in Euros (the “Euro Notes”), subject to market and other conditions. Contemporaneous with the offering of the Euro Notes, the Issuer also may offer senior secured notes in one or more series denominated in U.S. Dollars (the “U.S. Dollar Notes”), subject to market and other conditions.

CEMEX intends to use the net proceeds from the offering of the Euro Notes to retire (i) the €130,000,000 remaining aggregate principal amount outstanding of 9.625% Senior Secured Notes due 2017, issued by the Issuer, and (ii) the €115,346,000 remaining aggregate principal amount outstanding of 8.875% Senior Secured Notes due 2017, issued by CEMEX España, acting through its Luxembourg branch, and the remainder, if any, for general corporate purposes, including the repayment of indebtedness.

If the U.S. Dollar Notes are issued, CEMEX intends to use the net proceeds from the offering of the U.S. Dollar Notes to purchase a portion of (i) the 9.250% Senior Secured Notes due 2020, issued by CEMEX España, acting through its Luxembourg branch (the “2020 CEMEX España Dollar Notes”), and (ii) the 9.000% Senior Secured Notes due 2018 issued by CEMEX (the “2018 CEMEX Dollar Notes”), with the 2020 CEMEX España Dollar Notes having priority, and the remainder, if any, for general corporate purposes, including the repayment of indebtedness. CEMEX currently expects that the purchase price of the 2020 CEMEX España Dollar Notes would be approximately U.S.$1,102.50 for each U.S.$1,000 principal amount and that the purchase price of the 2018 CEMEX Dollar Notes would be approximately U.S.$1,092.50 for each U.S.$1,000 principal amount, in each case, plus accrued interest.

The Euro Notes and any U.S. Dollar Notes would 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 would be guaranteed by CEMEX, 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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