Markets Like Cemex Refi Proposal

Markets Like Cemex Refi Proposal

Mexico Bonds Loans

Facing some $7.2bn due in 2014 and a difficult global environment with a weak US recovery, Cemex plans to ask lenders for a 3-year extension, it says, a proactive move that analysts and investors are welcoming. At least 60 lenders holding debt from the Mexican Cement maker’s $14bn 2009 financing agreement are scheduled to meet with the company June 29 and July 2 in Madrid and New York. Cemex is proposing a maturity extension from February 2014 to February 2017, an upfront fee and revised margin,

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