MONTERREY: Mexico' Cemex , one of the world's biggest cement makers, on Thursday launched a 6-year $600 million bond, according to IFR.
Monterrey-based Cemex got saddled with a large debt burden during the financial crisis, and IFR, a Thomson Reuters news service, said the company's bond pays a coupon of 5.875 percent.
"The securities will be sold exclusively to qualified institutional buyers and foreign investors," Cemex said in a statement sent to the Mexican bourse which did not detail the bond's value or its coupon.
IFR added that the bond will mature in 2019 and will be priced later today.
Cemex was hurt by the 2008 US housing meltdown soon after paying out $16 billion to buy Australian peer Rinker. It has been digging out of debt obligations for the past three years.
The company wrapped up a refinancing package in the autumn that gave it much-needed room to push back looming debt payments for up to four years.
<Center><b><i>Copyright Reuters, 2013</b></i><br></center>
Comments
Comments are closed for this article.