Cemex adjusts conversion rate for convertible notes due 2020

By Rebecca Melvin

New York, Dec. 17 – Cemex, SAB de CV announced that the conversion rate of both series of its subordinated optional convertible notes due 2020 will be adjusted.

The new conversion rate for the 2020 convertible notes will be 93.2334 American Depositary Shares per $1,000 principal amount, equivalent to a conversion price of about $10.7258 per ADS, according to a press release.

The company said the new conversion rate is the result of the payment of the second and final installment of the cash dividend, which was approved at the company’s general ordinary shareholders’ meeting held on March 28.

Cemex is a building materials company based in Monterrey, Mexico.

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