Cemex offers to buy back up to $400m debt

Mexican cement maker Cemex said on Monday it had launched an offer to buy back up to $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 $150 million of the 2022 debt.

Cemex said the offer would expire at 11.59pm, New York City time on May 20 while notes tendered before 8 am on May 9 would be eligible for an early tender premium.

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