Mexico's Cemex tenders for up to €200 million of 4¾% notes due 2014

By Susanna Moon

Chicago, March 14 - Cemex SAB de CV announced a tender offer for up to €200 million of the €900 million of 4¾% notes due 2014 issued by its subsidiary Cemex Finance Europe BV and guaranteed by its subsidiary Cemex Espana, SA

The offer is intended "to address proactively Cemex's debt redemptions and to extend the average maturity of its group debt," according to a company press release.

The purchase price is €1,027.50 per €1,000 principal amount.

The offer will run until 11 a.m. ET on March 25, with settlement set for March 28.

There is €430,381,000 of the notes outstanding.

If the offer is oversubscribed, the notes will be purchased on a pro rata basis.

Cemex said it plans to issue senior secured notes, and the tender offer will be conditioned on completion of that issue.

The dealer managers are Merrill Lynch International (44 0 20 7995 3715/2324, attn.: John Cavanagh, Tommaso Gros-Pietro or john.m.cavanagh@baml.com, tommaso.gros-pietro@baml.com), Citigroup Global Markets Ltd. (44 0 20 7986 8960, attn: liability management group, liabilitymanagement.europe@citi.com), HSBC Bank plc (44 0 20 7992 6237, attn.: liability management group, email liability.management@hsbcib.com), Banco Santander, SA (34 91 257 2026/91 257 2029, attn: head of debt capital markets, syndicate@gruposantander.com).

The tender agent is Lucid Issuer Services Ltd. (44 0 207 704 0880, attn: Paul Kamminga, cemex@lucid-is.com).

Cemex is a Monterrey, Mexico-based building materials supplier and cement producer.

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