Cemex Passes Target, Aims Higher

Aug 22, 2012

Despite clinching the 85% creditor acceptance level needed to extend maturities on more than $7bn in debt, Cemex is extending the deadline of its exchange offer in the hopes of topping 95%. The Mexican cement maker has reached more than 90%, it says, with an additional 1.5% expressing interest in participation, and has pushed the deadline to September 7. “It is very ambitious,...

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

Jan Dehn, Ashmore Investment Management