Cemex to Churn Out Convertibles

Cemex to Churn Out Convertibles

Mexico Equity Bonds

Cemex is set to determine a price today on $1.2bn in new bonds convertible to ADS, it says, implementing a plan approved by shareholders last month. The Mexican cement maker, in the latest of a series of transactions following a 2009 debt restructuring, plans to sell 5 and 7-year convertible subordinated notes. It has given 3.0%-3.5% coupon price talk on a $600m 2016 portion, according to an investor, and 3.5%-4.0% coupon talk on a $600m 2018 tranche. Both are set to price at par. The talk on th

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