CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today the
expiration of its previously announced cash tender offer (the “Tender
Offer”) to purchase up to U.S.$1,175 million of the 9.000% Senior
Secured Notes due 2018 (the “2018 Notes”) issued by CEMEX and the 9.250%
Senior Secured Notes due 2020 (the “2020 Notes” and, together with the
2018 Notes, the “Notes”) issued by CEMEX España, S.A., acting through
its Luxembourg Branch. The Tender Offer expired at 11:59 p.m., New York
City time, on October 1, 2014 (the “Expiration Date”). CEMEX has been
advised by the tender agent that as of the Expiration Date, a total of
U.S.$592,670,000 of 2018 Notes and U.S.$365,221,000 of 2020 Notes had
been validly tendered in the Tender Offer, including U.S.$592,470,000 of
validly tendered 2018 Notes and U.S.$365,146,000 of validly tendered
2020 Notes purchased by CEMEX on the early settlement date of September
18, 2014. CEMEX intends to accept all U.S.$200,000 additional 2018 Notes
and U.S.$75,000 additional 2020 Notes validly tendered since 5:00 p.m.,
New York City time, on September 17, 2014 (the “Early Tender Date”) and
at or prior to the Expiration Date. Following completion of the Tender
Offer, U.S.$574,483,000 principal amount of 2018 Notes and
U.S.$230,622,000 principal amount of 2020 Notes are expected to remain
outstanding.
Holders of the additional 2018 Notes that validly tendered after the
Early Tender Date and at or prior to the Expiration Date are entitled to
receive U.S.$1,040.00 per U.S.$1,000 principal amount of 2018 Notes
accepted for purchase. Holders of the additional 2020 Notes that validly
tendered after the Early Tender Date and at or prior to the Expiration
Date are entitled to receive U.S.$1,068.75 per U.S.$1,000 principal
amount of 2020 Notes accepted for purchase. The final settlement date on
which CEMEX will make payment for such additional Notes is expected to
be October 2, 2014 (the “Final Settlement Date”). Holders will also
receive accrued and unpaid interest on such additional Notes from the
last interest payment date to, but not including, the Final Settlement
Date.
J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith
Incorporated acted as Dealer Managers for the Tender Offer. D.F. King &
Co., Inc. acted as Information Agent and Tender Agent for the Tender
Offer.
This release is neither an offer to purchase nor a solicitation of an
offer to sell or buy any securities in any transaction. The Tender Offer
was made pursuant to an offer to purchase and 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.
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 2014