Cemex Preps Convertible Notes

Cemex Preps Convertible Notes

Mexico Equity

Mexican cement maker Cemex plans to offer $500m in 2015 convertible notes due 2015. The deal, a part of its continuing bid to restructure debt and return to blue-chip status, may also feature a $75m overallotment. The notes, which will be unsecured and subordinate to existing and future senior debt, are convertible into Cemex ADS at a conversion rate to be determined at the time of pricing. It does not give an indication of timing, or who would manage the sale. In December, it sold MXP4.1bn in d

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