‘Refi machine’ Cemex pushes inside guidance

Cemex, cement, Mexico, LatAm
By Oliver West
13 Nov 2019

Mexican cement company Cemex’s debt management continues to earn it strong pricing as its first dollar deal in three years landed inside even where some bankers on the trade were expecting.

Though Cemex has been very active cleaning up its curve in the euro market in recent years, it had not tapped dollar buyers since a 10 year deal issued in March 2016 that came at 7.75%.

But both bond markets and Cemex — BB/BB today but B+/BB- at the ...

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