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Published on 6/8/2016 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

New Issue: Mexico’s Cemex prices €400 million 4 5/8% eight-year notes at par

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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