Cemex is planning to sell up to $1.38 billion of notes convertible to its U.S. shares, Bloomberg reports. The Monterrey, Mexico-based cement maker will offer $600 million of notes that mature in 2016 and $600 million of notes due in 2018.
The firms managing the offerings will have over-allotment options to buy $90 million in notes for each issue. The notes will convert into American Depositary Shares at rates yet to be decided.
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