CEMEX has issue U.S. dollar-denominated senior secured notes worth $1 billion. The notes have a coupon rate of 9% and will mature in 2018. The notes will be guaranteed by CEMEX México, CEMEX España and New Sunward Holding.
The transaction will help improve the Mexican cement maker’s debt maturity profile and reduce short term refinancing risk. Bank of America Merrill Lynch and JP Morgan were the joint global coordinators for the sale, adds Reuters.
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