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Cemex Raises LM Funds as Issuers Get Comfortable

Aug 6, 2013

More LatAm borrowers are seeing a stable pricing environment, with Cemex raising $1bn in the largest of three new transactions Monday. In its latest cost-shaving debt swap, the Mexican cement maker will use proceeds from the $1bn in new 2019 NC4 senior secured bonds to replace a portion of its 9.50% 2016s. Investors were heard putting in for $2.4bn in...

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

Jan Dehn, Ashmore Investment Management