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Cemex begins tender offer for 9½% notes, €150 million of 9 5/8% notes
By Susanna Moon
Chicago, Sept. 26 - Cemex, SAB de CV began tender offers for any and all of the $825 million 9½% senior secured notes due 2016 and up to €150 million of the €350 million outstanding 9 5/8% senior secured notes due 2017, both issued by Cemex Finance LLC.
In the any and all offer, the total purchase price will be $1,062.50 for each $1,000 principal amount of notes tendered by 5 p.m. ET on Oct. 8, the early tender date.
For the 9 5/8% notes, the total purchase price will be €1,063.50 for each €1,000 principal amount of notes tendered by 5 p.m. ET on Oct. 8, the early tender date.
The total payment in each case includes an early tender premium of $30 or €30 per $1,000 or €1,000 of notes.
Those who tender after the early date will receive $1,032.50 per $1,000 of 9½% notes and €1,033.50 per €1,000 of 9 5/8% notes.
The tender offers will end at 11:59 p.m. ET on Oct. 23.
Holders also will receive accrued interest to but excluding the settlement date.
If the amount of tendered notes exceeds the tender cap in the offer for the 9 5/8% notes, the notes will be purchased on prorated basis, according to a company press release.
The tender offer is conditioned on Cemex issuing at least $1.2 billion of senior secured notes.
BofA Merrill Lynch (888 292-0070 or collect 646 855-3401) and Citigroup Global Markets Inc. (800 558-3745 or collect 212 723-6106) are the dealer managers.
The information agent and tender agent is D.F. King (Europe) Ltd. (+44 0 20 7920 9700 or in the United States 800 488-8035 or collect 212 269-5550).
Cemex is a Monterrey, Mexico-based building materials supplier and cement producer.
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