CEMEX Prices EUR 400 Mln And $1 Bln Senior Secured Notes - Quick Facts

(RTTNews) - CEMEX, S.A.B. de C.V. (CX) announced the pricing of EUR 400 million of 5.250% Senior Secured Notes due 2021 and $1 billion of 6.000% Senior Secured Notes due 2024 of its indirect subsidiary, CEMEX Finance LLC. The closing of the offerings is expected to occur on April 1, 2014.

The Euro Notes will bear interest at an annual rate of 5.250% and mature on April 1, 2021. The Euro Notes will be issued at par and will be callable commencing on April 1, 2017.

The U.S. Dollar Notes will bear interest at an annual rate of 6.000% and mature on April 1, 2024. The U.S. Dollar Notes will be issued at par and will be callable commencing on April 1, 2019.

CEMEX intends to use Euro Notes offering proceeds to retire EUR 130 million of 9.625% Senior Secured Notes due 2017 and EUR 115.35 million of 8.875% Senior Secured Notes due 2017 and the remainder, if any, for general corporate purposes.

CEMEX plans to use U.S. Dollar Notes proceeds, together with available cash, to purchase up to $1.08 billion of 9.250% Senior Secured Notes due 2020, and 9.000% Senior Secured Notes due 2018 with the 2020 CEMEX España Dollar Notes having priority, and the remainder, if any, for general corporate purposes.