By Paul A. Harris
St. Louis, Jan. 13 - Mexico's Cemex Finance LLC priced a $500 million add-on to its 9½% senior secured notes due Dec. 14, 2016 (/B/B+) at 105.25 to yield 8.477% on Wednesday, according to an informed source.
The reoffer price came rich to the 105 price talk.
Bank of America Merrill Lynch was the global coordinator. Bank of America Merrill Lynch, Barclays Capital, Citigroup and JPMorgan were bookrunners.
Proceeds will be used to refinance debt and for general corporate purposes.
Cemex is a Monterrey, Mexico-based building materials company.
| Issuer: | Cemex Finance LLC
|
| Amount: | $500 million
|
| Maturity: | Dec. 14, 2016
|
| Security description: | Add-on to 9½% senior secured notes
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital, Citigroup, JPMorgan
|
| Coupon: | 9½%
|
| Price: | 105.25
|
| Yield: | 8.477%
|
| Trade date: | Jan. 13
|
| Ratings: | Standard & Poor's: B
|
| Fitch: B+
|
| Price talk: | 105 area
|
| Original issuer: | $1.25 billion priced at par on Dec. 10, 2009
|
| Total issue size: | $1.75 billion
|
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