CEMEX has successfully refinanced its US$3bn syndicated credit agreement, extending the maturity to 2028. The refinanced credit agreement consists of a US$1bn five-year amortising term loan, and a US$2bn five-year committed revolving credit gacility. This represents a reduction of US$500m in the term loan and an increase of US$250m in the revolver from the prior facility. The signing of the credit agreement is an integral part of a comprehensive financing plan designed to increase liquidity and flexibility.
"We are pleased that in a volatile market where yields have been rising, we were able to maintain terms and conditions, including the pricing grid established in 2021, as well as increase our committed revolver,” said CEMEX CFO, Maher Al-Haffar. “We now have a flatter debt maturity profile, with no significant maturities in any year.”
The credit agreement provides for a maximum leverage ratio of 3.75x throughout the life of the loan and a minimum interest coverage ratio of 2.75x. The credit agreement is part of CEMEX’s recently updated sustainability-linked financing framework.
