CEMEX in $1.5 Billion Global Bond Offering

October 12, 2012

Cleary Gottlieb represented initial purchasers J.P. Morgan Securities, Barclays Capital, RBS Securities, Credit Agricole Securities (USA), HSBC Securities (USA) and ING Financial Markets, in a high yield global debt offering by CEMEX. The transaction consisted of a bond offering of $1.5 billion 9.375% Senior Secured Notes due 2022 issued and sold by CEMEX Finance, an indirect subsidiary of CEMEX, and guaranteed by several subsidiaries of CEMEX located in Mexico, the United States, the United Kingdom, Spain, France, the Netherlands and Switzerland. The offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transaction priced on October 4 and closed on October 12.

The proceeds of the offering will be applied to repay indebtedness outstanding under CEMEX’s recently executed Facilities Agreement, to satisfy amortization due in March 2013.

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 $8.5 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 companies worldwide. CEMEX primarily engages in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker.