CEMEX Prices EUR 400 Mln And $1.1 Bln In Senior Secured Notes

(RTTNews) - CEMEX, S.A.B. de C.V. (CX) announced that it has priced EUR 400 million of 4.750% Senior Secured Notes due 2022 and $1.1 billion of 5.700% Senior Secured Notes due 2025. The company expects to close the offerings to occur on September 11, 2014.

The company said that the Euro Notes will bear interest at an annual rate of 4.750% and mature on January 11, 2022. The Euro Notes will be issued at par and will be callable commencing on January 11, 2018.

The U.S. Dollar Notes will bear interest at an annual rate of 5.700% and mature on January 11, 2025. The U.S. Dollar Notes will be issued at par and will be callable commencing on January 11, 2020.

CEMEX intends to use offering net proceeds of Euro Notes for general corporate purposes, including the repayment of indebtedness. CEMEX intends to use the net proceeds from the offerings to purchase by means of a cash tender offer up to$1.175 billion of 9.000% Senior Secured Notes due 2018 and 9.250% Senior Secured Notes due 2020 and the remainder for general corporate purposes.