CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that holders
of approximately U.S.$1.33 billion of the outstanding 9.50% Senior
Secured Notes due 2016 (the “Notes”) issued by CEMEX Finance LLC
tendered their Notes at or prior to the early tender deadline of 5:00
p.m., New York City time, on August 16, 2013 (the "Early Tender Date"),
pursuant to CEMEX's previously announced cash tender offer to purchase
up to U.S.$925 million (the “Maximum Tender Amount”) of the outstanding
Notes. The cash tender offer is being made pursuant to the offer to
purchase dated August 5, 2013 and the related letter of transmittal.
The following table summarizes the early tender results as of the Early
Tender Date and the principal amount of Notes that CEMEX has accepted
for purchase, as well as the proration factor:
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Title of Security
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CUSIP/ISIN
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Aggregate Principal Amount Outstanding
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Total Consideration
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Principal Amount Tendered
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Principal Amount Accepted
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Proration Factor
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9.50% Senior Secured Notes due 2016
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12516UAA3 / US12516UAA34 U12763AA3 / USU12763AA37
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U.S.$1,750,000,000
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U.S.$1,075 per U.S.$1,000 Principal Amount
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U.S.$1,329,378,000 Aggregate Principal Amount
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U.S.$925,000,000 Aggregate Principal Amount
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67.139%
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Because Notes in excess of the Maximum Tender Amount have been validly
tendered in the tender offer on or prior to the Early Tender Date, CEMEX
has accepted U.S.$925 million of such tendered Notes for purchase and
will pay holders thereof on a pro rata basis according to the pro ration
procedures described in the offer to purchase. The early settlement date
on which CEMEX will make payment for such Notes is expected to be August
19, 2013. Holders of Notes who tender after the Early Tender Date will
not have any of their Notes accepted for purchase. Any tendered Notes
that are not accepted for purchase will be returned or credited without
expense to the holder’s account.
Holders of Notes that validly tendered on or prior to the Early Tender
Date and whose Notes have been accepted for purchase are entitled to
receive U.S.$1,075 per U.S.$1,000 principal amount of Notes accepted for
purchase, which includes an early tender payment equal to U.S.$30 per
U.S.$1,000 principal amount of Notes accepted for purchase. Holders who
validly tendered on or prior to the Early Tender Date and whose Notes
have been accepted for purchase will also receive accrued and unpaid
interest on their accepted Notes from the last interest payment date to,
but not including, the early settlement date. The total cash payment to
purchase the Notes will be approximately U.S.$1.01 billion. Notes that
have been validly tendered cannot be withdrawn, except as may be
required by applicable law.
HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC acted as
Dealer Managers for the tender offer. The Information Agent and Tender
Agent for the tender offer was D.F. King & Co., Inc.
This release is neither an offer to purchase nor a solicitation of an
offer to sell any securities, including the Notes. The tender offer is
being made pursuant to the offer to purchase and the related letter of
transmittal, copies of which were delivered to holders of the Notes, and
which set forth the complete terms and conditions of the tender offer.
Neither the offer to purchase nor any related documents have been filed
with, and have not been approved or reviewed by any federal or state
securities commission or regulatory authority of any country. No
authority has passed upon the accuracy or adequacy of the offer to
purchase or any related documents, and it is unlawful and may be a
criminal offense to make any representation to the contrary.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties, and
assumptions. No assurance can be given that the transactions described
herein will be consummated or as to the ultimate terms of any such
transactions. CEMEX assumes no obligation to update or correct the
information contained in this press release.
Copyright Business Wire 2013