Cemex uses bond proceeds to pay off loan

Cemex uses bond proceeds to pay off loan

Debt Loans Bonds Capital Markets Corporate & Sovereign Strategy Fixed Income Mexico

Mexico's Cemex said it will use the proceeds from a $1 billion bond deal this week to pay off part of a loan that it received in July 2017.The Monterrey-based cement company issued new 10-year notes on Tuesday, pricing the paper at par with a coupon of 5.45%. It intends to settle the deal on November 19, it said in a securities filing. Cemex took a $4.05 billion facility from 20 banks in July 2017, split between a five-year, $2.92 billion term loan and a five-year, $1.14 billion revolving credit

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