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Cemex Paves Road to Renewal

Dec 10, 2009

Cemex has priced a tighter than expected issue of $1.25bn and EUR350m in bonds. The fallen Mexican cement maker generated orders of about $8.0bn and EUR1.5bn, as investors showed faith in its plan for recovery, say bankers on the deal. “It’s a case of investors feeling there are still investment-grade fundamentals at the company,” Bevan Rosenbloom, LatAm corporate debt analyst at RBS, tells LatinFinance. As the book swelled, Cemex revised guidance...

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There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.

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