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    CEMEX CPO   MXP225611567

CEMEX, S.A.B. DE C.V.

(CEMEX CPO)
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Mexico's Cemex closes $3.25 bln sustainability-linked credit agreement

11/08/2021 | 05:32pm EST

MEXICO CITY, Nov 8 (Reuters) - Mexico's Cemex successfully closed a new $3.25 billion syndicated credit agreement, the company said on Monday, in the first debt issued under its sustainability-linked financing framework.

The new credit agreement consists of $1.5 billion in five-year amortizing term loans and a $1.75 billion five-year committed revolving credit facility, the company said in a statement.

Cemex said it used the proceeds to fully repay its previous facilities agreement.

Cemex, North America's top cement maker, said the agreement is denominated in dollars and has financial covenants consistent with an investment grade capital structure. Half of the term loans have been swapped into Euros using derivative instruments.

The new agreement is the first debt offering under Cemex's sustainability-linked financing framework, which the company describes as its ultimate vision of a carbon-neutral economy.

"We are starting a new chapter for the company where we shift our strategic balance a bit more towards growth and the advancement of our Climate Action goals," Cemex Chief Executive Fernando Gonzalez said in the statement.

(Reporting by Adriana Barrera and Cassandra Garrison; Editing by Richard Chang)


© Reuters 2021
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Financials (USD)
Sales 2021 14 732 M - -
Net income 2021 996 M - -
Net Debt 2021 8 616 M - -
P/E ratio 2021 9,11x
Yield 2021 -
Capitalization 8 709 M 8 708 M -
EV / Sales 2021 1,18x
EV / Sales 2022 1,06x
Nbr of Employees 46 543
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 0,59 $
Average target price 0,98 $
Spread / Average Target 66,1%
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Managers and Directors
Fernando Angel González Olivieri Chief Executive Officer & Non-Independent Director
Maher Al-Haffar CFO, Executive VP-Finance & Administration
Rogelio Zambrano Lozano Executive Chairman
Dionisio Garza Medina Independent Director
Armando Jorge García Segovia Independent Director
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