Mexico's Cemex talks expected €750 million perpetual bonds at mid-swaps plus 180-185 bps

By Reshmi Basu

New York, May 3 - Cemex SA de CV set price talk for a euro-denominated offering of perpetual bonds (//BBB) at mid-swaps plus 180 to 185 basis points, according to a market source.

The issue will be structured as fixed-to-floating rate bonds and will also be non-callable for 10 years.

The size of the deal is expected to be €750 million.

Barclays Capital and JP Morgan are managing the Regulation S sale, which will be issued via special purpose vehicle C10-EUR Capital (SPV) Ltd.

The Monterrey, Mexico-based issuer is a cement producer.

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