April 3, 2019 |
Mexican cement maker adds three years to $1.1bn debt that was due in 2020 and 2021
Mexico's Cemex said it has added three years to $1.1bn in loans that were previously due in July 2020 and January 2021.
Now the cement maker does not have to make any "relevant" debt payments until July 2021, other than $521m in 3.72% bonds due in March 2020, the cement maker said in a statement.
The company has outlined $2bn of asset sales to lower debt by the end of 2020. It sold its white cement business in Europe for $180m and its aggregates and ready-mix subsidiaries in Germany for €87m ($97.5m) in March as well as facilities in Latvia, Lithuania and Estonia for €340m in February.