Cemex Completes Debt Exchange

Cemex Completes Debt Exchange

Mexico Bonds

Investor participation in Cemex’s debt exchange has reached 92.6% of existing exposures as of the September 7 deadline, it says, shy of its self-imposed 95% target but still enough to successfully extend maturities of $7bn in debt due 2014. In the operation, holders could exchange their existing exposures for three classes of new debt due 2017 and new 9.5% bonds due 2018. As the demand for the 2018 bonds exceeded a $500m cap, creditors who elected to receive new notes after the July 19 early dea

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