CEMEX Prices $1.0 Bln Senior Secured Notes - Quick Facts

(RTTNews) - CEMEX, S.A.B. de C.V. (CX) announced the pricing of $1.0 billion of senior secured notes. The company expects to close offering to occur on August 12.

CEMEX plans to use about $995 million of offering proceeds to buy portion of the 9.50% Senior Secured Notes due 2016 issued by CEMEX Finance and the remainder for general corporate purposes, including repayment of indebtedness.

CEMEX now expects to purchase a portion of the 2016 Notes at about U.S.$1,075 for each $1,000 of 2016 Notes plus accrued interest.

The Notes will bear interest at an annual rate of 6.5% and mature on December 10, 2019. The Notes will be issued at par and will be callable commencing on December 10, 2017.