Cemex Sells Local Converts

Cemex Sells Local Converts


Fresh off a $1.77bn dual-currency cross-border issue Wednesday, Cemex promptly issued MXP4.1bn in domestic convertible bonds via exchange offer Thursday. The Cement maker sold new 10% coupon bonds convertible into its CPO shares, it says, to fund the repurchase of MXP4.1bn in various local bonds maturing 2010-2012 through a tender closed Wednesday. Conversion is mandatory at maturity or if the Cemex CPO price reaches MXP35.88. Holders can convert them after 1 year on interest payments dates. The

Already have an account?

Free trial

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

Free Trial