Fernando Gonzalez, executive vice president of finance and administration of Cemex, said: “Cemex is pleased to have accomplished this significant milestone, with support from over 55 banks and institutions. We intend to continue to proactively address our maturities and work towards reducing our leverage and strengthening our capital structure.”
Pursuant to the refinancing, participating creditors representing approximately 92.7% of the aggregate principal amount outstanding under the existing Financing Agreement agreed to extinguish their existing loans and private placement notes and to receive in place:
• Approximately US$6.155 billion in aggregate principal amount of new loans and new US dollar private placement notes issued pursuant to a New Facilities Agreement and a New Note Purchase Agreement, both dated as of 17 September, 2012.
• US$500 million of new 9.5% senior secured notes due 2018, issued pursuant to an indenture dated as of 17 September, 2012.
As a result of the refinancing, the New Facilities Agreement, with a final maturity of 14 February, 2017, has become effective. Also, approximately $525 million aggregate principal amount of loans and US dollar private placement notes remain outstanding under the original Financing Agreement, as amended and restated pursuant to the terms of the exchange offer, and the Note Purchase Agreement, each with a final maturity of 14 February, 2014.
