By Christine Van Dusen
Atlanta, June 8 – Cemex SAB de CV sold €400 million of senior secured notes due 2024 (expected ratings: /B+/BB-) at par to yield 4 5/8% on Wednesday, a market source said.
The notes are being issued by subsidiary Cemex Finance LLC.
The notes were talked at 4 5/8%.
BNP Paribas, Credit Agricole CIB and JPMorgan were the active bookrunners and RBS the passive bookrunner for the Rule 144A and Regulation S deal.
The notes are callable beginning June 15, 2020.
The proceeds will be used for general corporate purposes, including to repay debt.
Cemex is a cement producer based in Monterrey, Mexico.
| Issuer: | Cemex Finance LLC
|
| Amount: | €400 million
|
| Maturity: | 2024
|
| Description: | Senior secured notes
|
| Bookrunners: | BNP Paribas, Credit Agricole CIB, JPMorgan (active); RBS (passive)
|
| Coupon: | 4 5/8%
|
| Price: | Par
|
| Yield: | 4 5/8%
|
| Call options: | Non-callable for four years
|
| Trade date: | June 8
|
| Settlement date: | June 14
|
| Expected ratings: | S&P: B+
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 4 5/8%
|
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