CEMEX’s $3.25 Billion Sustainability-Linked Facilities

November 10, 2021

Cleary Gottlieb represented the lenders in CEMEX’s $3.25 billion syndicated unsecured credit agreement with an ESG component.

The credit agreement consists of a $1.5 billion, five-year amortizing term loan and a $1.75 billion, five-year committed revolving credit facility.

CEMEX intends to use the proceeds to fully repay its previous facilities agreement and for general corporate purposes.

Cleary has been counsel in a number of CEMEX-related matters, including as counsel to the bank steering committees in CEMEX’s restructuring of approximately $15 billion of its debt in 2009 and further restructuring of approximately $7 billion in 2012. Since 2009, Cleary has acted as counsel to initial purchasers in the issuance of approximately $24.3 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 companies worldwide. CEMEX primarily engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, aggregates, and clinker.