Cemex offers to buy back up to US$400 mln in debt

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

The Monterrey-based firm 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$150 million of the 2022 debt.

Cemex said the offer would expire at 11.59 p.m., New York City time on May 20, (0359 GMT, May 21) while notes tendered before 8 a.m. (1200 GMT) on May 9 would be eligible for an early tender premium.