Cemex to adjust conversion rate for convertible notes due 2020

By Sarah Lizee

Olympia, Wash., June 19 – Cemex, SAB de CV announced that the conversion rate of both series of its optional convertible subordinated notes due 2020 will be adjusted.

The new conversion rate for the 2020 convertible notes will be 91.9515 American Depositary Shares per $1,000 principal amount, equivalent to a conversion price of about $10.8753 per ADS, according to a press release.

The company said the new conversion rate is the result of the payment of the first installment of the cash dividend, approved at the company’s general ordinary shareholders’ meeting held on March 28.

Cemex is a building materials company based in Monterrey, Mexico.

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