Cemex announced the results of its five separate exchange offers made on a private placement basis to exchange currently outstanding Euro-denominated 4.75% As a result of the Exchange Offers, Cemex’s overall indebtedness (including the Perpetual Debentures) will be reduced by approximately US$131m.

Fernando Gonzalez, Cemex’s CFO, said: “These exchange offers allow Cemex to further reduce its refinancing risk and its overall indebtedness (including Perpetual Debentures), two important components in our ongoing financial strategy.”

However, only 53 per cent of its outstanding 2014 eurobonds have been exchanged for new senior notes maturing in 2019, and 48 per cent of outstanding perpetual debentures were exchanged for new senior secured notes maturing in 2019.