CEMEX’s $500 Million Liability Management

Cleary Gottlieb represented dealer managers Bank of America and J.P. Morgan in a cash tender offer by CEMEX S.A.B. de C.V. (CEMEX) to purchase up to $500 million in principal amount of its 5.2% notes due 2030, 5.45% notes due 2029, and 3.875% notes due 2031.

The tender offer launched on March 28, 2022, early settled on April 13, 2022, expired on April 25, 2022, and settled on April 27, 2022.

Cleary has been counsel in a number of CEMEX-related matters, including as counsel to the lenders in CEMEX’s $3.25 billion sustainability-linked facilities and as counsel to initial purchasers in connection with the issuance of approximately $24.5 billion in high-yield bonds and convertible debentures by CEMEX.

CEMEX is one of the largest cement companies in the world based on annual installed cement production capacity and one of the largest ready-mix concrete company worldwide. CEMEX primarily engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, aggregates, and clinker.