Cemex announces plans for US$1bn bond issue

Cemex has announced plans to issue US$1bn worth of bonds, with a 7.375 per cent coupon and a maturity date of June 2027. The issue is expected to be used to support ongoing business activities, including debt repayment.

The bonds will be issued with an option to repurchase them four years prior to maturing and the offering period will close on 5 June. 

Elsewhere, Mexico's energy regulator approved new rates that electricity providers must pay the national power utility for transmission last week. Cemex has since stated that its business may suffer if the changes result in limiting the generation of renewable energy and imposing new costs.