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Cemex Outlines Debt Proposal

Jul 2, 2012

Cemex has unveiled the terms of an offer to creditors to extend the maturity of $7bn in debt to 2017 from 2014, it says. The Mexican cement maker is offering lenders an exchange of their current exposure into one or more of new 9.5% 2018 bonds, new loans paying Libor+525bp, new USD private placement notes paying 9.66%, or new yen-denominated private placement notes...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management