Cemex, Mexico, said on Monday it had launched an offer to buy back up to US$400mn of debt on senior note issues due to mature in 2018, 2019 and 2022.

The company said in a statement the offer was for its 2018 floating rate notes, its 2019 notes bearing a 6.5 percent coupon and the 9.375 percent notes falling due in 2022.

However, Cemex noted it would not buy back more than US$150mn of the 2022 debt.