CEMEX’s $400 Million Liability Management

September 30, 2022

Cleary Gottlieb represented dealer managers Citigroup and Credit Agricole in a cash tender offer by CEMEX S.A.B. de C.V. (CEMEX) to purchase the outstanding 3.875% notes due 2031, 5.2% notes due 2030, and 5.45% notes due 2029, for an aggregate purchase price, excluding accrued and unpaid interest, of up to $400 million.

The tender offer launched on September 14, 2022, and early settled on September 30, 2022.

Cleary has been counsel in a number of CEMEX related matters, including as counsel to the lenders in CEMEX’s $3.25 billion sustainability-linked facilities and as counsel to initial purchasers in connection with the issuance of approximately $24.5 billion in high yield bonds and convertible debentures.

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.