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Mexico’s Cemex tenders for $475 million of notes due 2019, 2021, 2022
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – Cemex SAB de CV launched a tender offer for up to $475 million of three series of notes, according to a Monday press release.
The notes, listed in acceptance priority, include the company’s $726,726,000 of 7¼% senior secured notes due 2021, its $708,107,000 of 6½% senior secured notes due 2019 and the $1,055,594,000 of 9 3/8% notes due 2022 issued by Cemex Finance LLC.
For each $1,000 principal amount of notes, Cemex is offering a total consideration of $1,081.25 for the 2021 notes, $1,067.50 for the 2019 notes and $1,095.00 for the 2022 notes.
In each case, the total consideration includes a $30 early tender premium for each $1,000 principal amount of notes tendered by the early deadline of 8 a.m. ET on Feb. 28.
Holders who tender their notes after the early deadline will be eligible to receive the total consideration less the early tender premium.
The offer expires at 11:59 p.m. ET on March 13.
If the tender cap is exceeded, notes will accepted for purchase will be prorated.
The company also will pay accrued interest to but excluding the settlement date.
The offer is subject to a finance condition.
HSBC Securities (USA) Inc. (888 472-2456 or 212 525-5552) is the dealer manager.
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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