The payments were part of the Mexican company’s debt restructuring package totalling €5.35 billion, which expires in February 2014 and of which 92% was renegotiated, corresponding to €4.95 billion. Under this agreement, Cemex also promised to pay off €3.07 billion in 2017 and €375.27 million via a high yield bond in 2018. The debts of €1.5 billion were paid off in advance because of a €1.12 billion bond issue in October 2012, as well as €750.55 million obtained from placing Cemex Latam Holding on the Colombian stock exchange in November 2012.
Cemex pays off €1.5bn debts in advance of 2013-16 bonds expiry
Cemex paid off debts of €1.5 billion to its creditors in advance during the last quarter of 2012, including bonds expiring in 2013, 2014 and 2016. The payments were part of the Mexican company’s debt restructuring package totalling €5.35 billion, which expires in February 2014 and of which 92% was renegotiated, corresponding to €4.95 billion. Under this agreement, Cemex also promised to pay off €3.07 billion in 2017 and €375.27 million via a high yield bond in 2018. The debts of €1.5 billion were paid off i
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