CEMEX’s €750 Million Sustainability-Linked Facilities

April 11, 2024

Cleary Gottlieb represented the lenders in the refinancing of CEMEX’s existing euro-denominated facility.

The refinancing transaction consisted of a €750 million syndicated unsecured amended and restated credit agreement with an ESG component, including a €450 million, five-year amortizing term loan and a €300 million, four-year committed revolving credit facility. The transaction closed on April 11, 2024.

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. More recently, in October 2023 Cleary advised the lenders in the refinancing of its $3 billion unsecured sustainability-linked facilities. Since 2009, Cleary has acted as counsel to initial purchasers in the issuance of more than $20 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.