Cemex Marketing Hybrid Bond In US

Cemex Marketing Hybrid Bond In US

Mexico

Mexico's Cemex is on the road in the US with a dual-tranche senior perpetual bond issue through Barclays and JPMorgan, expected to weigh in at up to $1.5 billion. Investor meetings run through this week and pricing is likely on Monday December 11. The quasi hybrid issue is structured for accounting purposes, though it gets no equity credit, and proceeds are to help fund the acquisition of Australia's Rinker, which is still being negotiated. There are two pieces, one callable after year five, the

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial