CEMEX in $750 Million and €550 Million Concurrent Global Bond Offerings

Cleary Gottlieb represented initial purchasers Banca IMI, BBVA, BNP Paribas, BofA Merrill Lynch, Citigroup, Credit Agricole CIB, HSBC, ING, J.P. Morgan and Santander, in two concurrent high-yield global debt offerings by CEMEX. The transactions consisted of an offering of $750 million 6.125% Senior Secured Notes due 2025 and an offering of €550 million 4.375% Senior Secured Notes due 2023 issued and sold by CEMEX, and guaranteed by several subsidiaries of CEMEX located in Mexico, the United States, the United Kingdom, Spain, France, the Netherlands and Switzerland. The offerings were conducted as private placements under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transactions priced on February 26 and closed on March 5.

CEMEX used the proceeds of the offerings to repay existing indebtedness and for general corporate purposes. Cleary Gottlieb has been counsel in a number of CEMEX related matters, including as counsel to the bank steering committees in connection with CEMEX’s restructuring of approximately $15 billion of CEMEX’s debt in 2009, and further restructuring of approximately $7 billion in 2012. Since 2009, Cleary Gottlieb has acted as counsel to initial purchasers in connection with the issuance of approximately $16.5 billion in high yield bonds and convertible debentures by CEMEX.

CEMEX is one of the largest cement companies in the world based on annual installed cement production capacity and one of the largest ready-mix concrete company worldwide. CEMEX primarily engages in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker.