Cemex secure US$4.05bn credit line to refinance debt

Cemex, the Mexican global building materials giant, has signed $4.05 billion in new credit lines with 20 different institutions. Some of the funds will be used to refinance $3.678bn in previous credit lines, while the remaining amount will be used for corporate purposes that may include paying debt, the company said in a statement filed with the Mexican stock exchange. “We are very pleased with this refinancing, which is allowing us to extend our debt maturity profile and reduce our cost of debt, while prov
July 21, 2017 Read time: 1 min

643 Cemex, the Mexican global building materials giant, has signed $4.05 billion in new credit lines with 20 different institutions.

Some of the funds will be used to refinance $3.678bn in previous credit lines, while the remaining amount will be used for corporate purposes that may include paying debt, the company said in a statement filed with the Mexican stock exchange.

“We are very pleased with this refinancing, which is allowing us to extend our debt maturity profile and reduce our cost of debt, while providing adequate flexibility to support our strategy going forward,” said José Antonio González, chief financial officer, Cemex.

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