Cement News tagged under: Cemex
Industry majors reportedly teaming up for LH asset disposals09 October 2014, Published under Cement NewsCRH is reportedly teaming up with Cemex to bid for all the assets that Lafarge SA and Holcim Ltd will have to sell to secure the approval of European competition authorities for their proposed merger, Reuters reported on Tuesday. HeidelbergCement AG of Germany and Brazil's Votorantim Cimentos SA also are understood to be considering a joint bid for the assets, according to sources familiar with the matter cited by Reuters. The groups would be competing with several private equity bidders f... |
Cemex reaches agreement regarding Alcanar, Spain08 October 2014, Published under Cement NewsCemex has reached an agreement with the Santi Vila authorities to keep running its Alcanar works in Tarragona, Spain. In return the Generalitat commits to dredge the port of Barcelona so large vessels can moor and as such, enable Cemex to export to new markets such as the US. The dredging operation will cost EUR4.5m and will be completed before the summer. In September, Alcanar will receive a 40,000dwt ship. Some 87 per cent of Cemex’s Alcanar production is destined for export, main... |
Cemex enters new US$1.35bn credit agreement01 October 2014, Published under Cement NewsCemex SAB de CV announced it entered a new credit agreement for US$1.35bn with nine of the main lending banks from its Facilities Agreement of 17 September 2012. The new agreement’s main terms include an average four-year term with equal semi-annual payments of principal of 20 per cent each, with a three-year grace period and September 2019 as the last payment date. In addition, there will be a spread over LIBOR of 250-375 basis points, depending on the level of leverage of the company, an... |
Texas cement shipments in August up 15.2%01 October 2014, Published under Cement NewsAugust cement shipments in the US state of Texas advanced 15.2 per cent than in the same period of 2013, according to the Texas Comptroller of Public Accounts. Holcim saw its dispatches rise by 39 per cent in August and by 28 per cent in the first eight months of 2014. TXI saw its shipments advance by 26 per cent and Texas Lehigh by 21 per cent while Cemex sales flatlined and Alamo’s fell by 10 per cent. For 8M14, TXI, Cemex and Texas Lehigh dispatches increased by 18, six and five per ce... |
Cemex to buy back over US$950m of debt18 September 2014, Published under Cement NewsCemex said on Wednesday it would buy back more than US$950m worth of its debt from bondholders through a tender offer, as part of a wider plan under a new chief executive to reduce its leverage, Reuters reports. Cemex said holders of US$592.5m worth of outstanding nine per cent notes due in 2018 and US$365.1m worth of 9.25 per cent notes due in 2020 had tendered their notes by the Wednesday deadline. The purchase will help the company to lower its debt-to-equity ratio and reduce interest p... |
EC clears Holcim and Cemex Spanish deal10 September 2014, Published under Cement NewsThe European Commission (EC) has cleared, under the EU Merger Regulation, the proposed acquisition of Holcim’s Spanish operations by Cemex, the last of three transactions under scrutiny in the European tie-up between the two global majors. Following an in-depth investigation launched in April 2014, yesterday the Commission concluded that the acquisition "would not raise competition concerns since the merged entity will continue to face sufficient competition from its rivals in all markets ... |
Fitch Assigns 'BB -' Ratings to CEMEX's Notes08 September 2014, Published under Cement NewsFitch Ratings has assigned expected ratings of 'BB-/RR3(EXP)' to Cemex's proposed USD notes due in 2025 and its proposed Euro notes due in 2022. Proceeds from the Euro notes issuance will be used for general corporate purposes, including the repayment of indebtedness under Cemex's Facilities Agreement. Proceeds from the USD issuance will be used for general corporate purposes, including the repurchase of a portion of the company's outstanding 2018 and 2020 notes. The Rating Outlook for Cemex... |
Cemex announces pricing on Senior Secured Notes05 September 2014, Published under Cement NewsCemex announced the pricing of EUR400m of its 4.750 per cent Senior Secured Notes due 2022 denominated in euros and US$1.1bn of its 5.700 per cent Senior Secured Notes due 2025 denominated in US dollars. The Euro Notes will bear interest at an annual rate of 4.750 per cent and mature on January 11, 2022. The Euro Notes will be issued at par and will be callable commencing on 11 January 2018. The US Dollar Notes will bear interest at an annual rate of 5.700 per cent and mature on 11 January ... |
Cemex seeks to refinance some bank debt04 September 2014, Published under Cement NewsCemex said Wednesday it is negotiating with a number of banks to refinance part of its outstanding bank debt, saying hopes to finalise the pact by the end of October. In a regulatory filing, the Mexican cement major said it is in advanced talks with a group of banks aimed at reaching a new agreement by 31 October 2014. Proceeds would be used to refinance part of an existing financing agreement with banks. Cemex refinanced around US$15bn in bank debt during the 2009 global crisis, and ... |
Cemex Dominican Republic unveils EvolutionEco concrete01 September 2014, Published under Cement NewsCemex Dominican Republic has pledged lower costs, shorter construction time and higher quality during the launch of its new "EvolutionEco" concrete last week. Cemex Dominican Republic President, Carlos Emilio Gonzalez, headed the unveiling of the new product, accompanied by David Zampini, head of Cemex R&D for products and construction trends, headquartered in Switzerland. Gonzalez said the self-compacting EvolutionEco concrete joins Cemex ’s family of global brands. "Today we heral... |