CEMEX Prices $1.4 Bln Senior Secured Notes - Quick Facts

(RTTNews) - CEMEX, S.A.B. de C.V. (CX) announced the pricing of $1.0 billion of 7.25% Senior Secured Notes due 2021 and $400 million of Floating Rate Senior Secured Notes due 2018. The closing of the offerings is expected to occur on October 2, 2013.

The company said that the fixed Rate Notes will bear interest at an annual rate of 7.25% and mature on January 15, 2021. The Fixed Rate Notes will be issued at par and will be callable commencing on January 15, 2018.

The Floating Rate Notes will bear interest at a floating rate equal to three-month LIBOR plus 4.75% (475 basis points) and mature on October 15, 2018. The Floating Rate Notes will be issued at par and will be callable commencing on or after the interest payment date immediately preceding their maturity date.

CEMEX intends to use about $1.394 billion of offering net proceeds to buy $825 million outstanding 9.50% Senior Secured Notes due 2016, issued by CEMEX Finance LLC, and the remainder for general corporate purposes.