CEMEX completes global offering for proceeds of USD1.8bn

Tue. September 29, 2009; Posted: 06:10 AM

Sep 29, 2009 (M2 EQUITYBITES via COMTEX) -- CX | Quote | Chart | News | PowerRating -- Mexican building materials company CEMEX SA de CV (NYSE:CX) has raised approximately USD1.782bn from its global offering that was completed on Monday, the company said.

A total of 1.495bn Ordinary Participation Certificates (CPOs) were sold, directly or in the form of American Depositary Shares (ADSs). The underwriters fully exercised their options to purchase additional CPOs and ADSs to cover over-allotments.

Of the total CPOs offered, 1,121,250,000 were sold in the US and elsewhere outside Mexico and 373,750,000 were sold in Mexico. The ADSs were offered to the public at a price of USD12.50 per ADS and the CPOs were offered to the public at a price of MXN16.65 per CPO.

The net proceeds will be used to pay down debt as per the financing agreement recently signed with CEMEX's creditors.

J.P. Morgan, Citi, Santander Investment and BBVA acted as global coordinators for the global offering. J.P. Morgan, Citi, Santander Investment, BBVA, BNP Paribas, HSBC and RBS acted as joint bookrunning managers on the international offering. Acciones y Valores Banamex Casa de Bolsa, J.P. Morgan Casa de Bolsa, Casa de Bolsa BBVA Bancomer, Santander Casa de Bolsa and HSBC Casa de Bolsa acted as bookrunning managers for the Mexican offering.

(USD1=MXN13.57)

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For full details on Cemex S A B De Cv (CX) click here. Cemex S A B De Cv (CX) has Short Term PowerRatings of 5. Details on Cemex S A B De Cv (CX) Short Term PowerRatings is available at This Link.

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