CEMEX, S.A.B. de C.V. Successfully Closes New $3.25 Billion Syndicated Credit Agreement
November 08, 2021 at 05:01 pm EST
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CEMEX, S.A.B. de C.V. announced that it has successfully closed a new $3.25 billion syndicated credit agreement (the ?Credit Agreement?) and used the proceeds to fully repay its previous facilities agreement. The new Credit Agreement consists of a $1.5 billion 5-year amortizing Term Loans and a $1.75 billion 5-year committed Revolving Credit Facility. The committed facility is roughly $600 million higher than the previous facilities agreement, resulting in a stronger liquidity position which is favorable from a company risk and credit rating perspective. The Credit Agreement is denominated exclusively in US Dollars and includes an interest rate margin grid that is about 25 basis points lower on average than that of the previous facilities agreement. Additionally, half of the Term Loans have been swapped into Euros using derivative instruments. Furthermore, the new Credit Agreement is the first debt to be issued under CEMEX?s recently published Sustainability-linked Financing Framework (the ?Framework?), which is aligned to the company?s Future in Action strategy and its ultimate vision of a carbon-neutral economy. The annual performance in respect to the three metrics referenced in the Framework may result in a total adjustment of the interest rate margin of plus or minus 5 basis points, in line with other sustainability-linked loans from investment grade rated borrowers.
Cemex SAB de CV is a Mexico-based operating and holding company primarily engaged, directly or indirectly, through subsidiaries, in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other globally provided construction materials. The construction-related services supply customers and communities in over 50 countries throughout the world. The Company operates in various locations, including Mexico, the United States, Europe, South America, Central America, the Caribbean, Asia, the Middle East and Africa. The cement production facilities are located in Mexico, the United States, Spain, Egypt, Germany, Colombia, the Philippines, Poland, the Dominican Republic, the United Kingdom, Panama, Puerto Rico, Thailand and Nicaragua. The Company is a supplier of aggregates, primarily the crushed stone, sand and gravel, used in various forms of construction.
CEMEX, S.A.B. DE C.V. 
