CEMEX enter into new facilities agreement
Company successfully closes new US$4.05 billion bank loan with 20 institutions
CEMEX have entered into a new facilities agreement for a total amount of US$4.05 billion, with 20 institutions.
The 2017 credit agreement will be used to refinance the US$3.68 billion facilities agreement dated 29 September 2014, with the remaining amount being used for general corporate purposes, which may include debt repayment.
CEMEX say they expect to fully cancel both drawn and undrawn amounts under the 2014 credit agreement by 25 July 2017.
‘We are very pleased with this refinancing, which is allowing us to extend our debt maturity profile and reduce our cost of debt, while providing adequate flexibility to support our strategy going forward,’ said José Antonio González, CEMEX’s chief financial officer.
‘We are thankful for the support of both existing and new institutions. Our improved credit profile facilitated a significant oversubscription which resulted in an increased size of the facility and a reduction in the final participation amount of the joint bookrunners.’
