Cemex closes US$3.5bn credit agreement

Cemex has closed a new US$3.25bn syndicated credit agreement, with it being the first debt issued under its sustainability-linked financing framework. The proceeds have been used to fully repay its previous facilities agreement.

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

"This new credit agreement represents a major milestone in our path to investment grade as it is our first major syndicated unsecured bank agreement since 2009. It showcases Cemex’s continued access to diversified funding sources while further aligning our financing strategy to our leadership in addressing climate change," said Cemex’s CEO, Fernando A Gonzalez. "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."