Mexico’s Cemex sees $241.69 million early tenders of notes due 2021

By Wendy Van Sickle

Columbus, Ohio, Oct. 14 – Cemex SAB de CV said $241,692,000 of its $1 billion of outstanding 7¼% senior secured notes due 2021 were tendered by the early deadline of its offer for up to $500 million of the notes.

The tender offer was announced Sept. 30, and the early deadline was 8 a.m. ET on Friday.

The total purchase price will be $1,075 for each $1,000 principal amount of notes received by the early deadline, all of which were accepted. Early settlement is expect to occur on Oct. 19, according to a press release.

Holders who tender after the early deadline will receive the total amount less the $30.00 early premium, or $1,045 per $1,000 of notes.

The tender offer will end at 11:59 p.m. ET on Oct. 27.

The company also will pay accrued interest to but excluding the settlement date.

The total outstanding amount includes $31,382,000 principal amount of notes held by Cemex.

BNP Paribas Securities Corp. (888 210-4358, 212 841-3561 or 212 841-3059) and Credit Agricole Securities (USA) Inc. (866 807-6030, 212 261-1924 or 212 261-7802) are the dealer managers. Global Bondholder Services Corp. (866 470-3700 or 212 430-3774) is the information agent and tender agent.

Cemex is a cement producer based in Monterrey, Mexico.

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