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CEMEX strengthens capital structure

CEMEX has announced that the collateral that guarantees the company's debt under its main bank agreement and its senior secured notes, has been released.
By Liam McLoughlin October 14, 2021 Read time: 1 min
CEMEX CFO Maher A-Haffar says the release of collateral simplifies its debit structure
CEMEX CFO Maher A-Haffar says the release of collateral simplifies its debit structure

The building materials giant says that, under its facilities agreement of 19 July 2017, the release of the collateral was automatically triggered after CEMEX previously reported two consecutive quarters with a consolidated leverage ratio of 3.75x or less.

As a result of the release of the collateral under the Facilities Agreement, the collateral under CEMEX’s senior secured notes automatically falls away.

“We are very pleased with this momentous milestone which is a culmination of the substantial strengthening of our capital structure and paves the way towards an investment grade rating,” said CEMEX CFO Maher A-Haffar. "This will simplify our debt structure and reduce the cost of managing our debt stack."

The collateral consisted of the shares directly or indirectly owned by CEMEX in certain of its subsidiaries (CEMEX Operaciones México, CEMEX España, and CEMEX Innovation Holding).

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