Cemex pays off €1.5bn debts in advance of 2013-16 bonds expiry

Cemex has announced the pricing of US $ 1.5 billion in senior secured US dollar notes. The notes being issued by Cemex Finance LLC will bear interest at an annual rate of 9.375% and mature in 2022. Cemex says they will be issued at par and will be callable commencing on their 5th anniversary. The closing of the offering is expected to occur on October 12, 2012, subject to satisfaction of customary closing conditions.

Cemex has successfully completed its previously announced refinancing of its Financing Agreement, dated 14 August, 2009, as amended. 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.”

Mexican cement firm Cemex’s strong overseas performance is said to have offset an 11% drop in sales and a 21% fall in Ebitda in Mexico during Q3 2013.
Overall, Cemex consolidated revenues grew year-on-year by 3% in July-September 2013, reaching €2.91 billion, while Ebitda totalled €541.1 million in this same period – up 2% on the third quarter of 2012. These positive results are mostly linked to higher volume sales in the US, Latin America and the Caribbean, the Mediterranean, Northern Europe and Asia. Cem

A senior Cemex figure believes 2012 was a “year of recovery” for the Mexican construction materials giant. Fernando A.González, Cemex executive vice president of finance and administration, was speaking after the publication of new figures revealed how the company’s year-on-year net sales declined by 2% to US$15 billion in 2012 – but its EBITDA increased by 10% to $2.6 billion. Further figures released revealed Q4 2012 net sales were stable at US$3.7 billion, while operating EBITDA increased by 13% to $611