Cemex cements popularity with tight 10 year

Cemex, cement, Santa Clara, Mexico, LatAm, 575
By Oliver West
15 Sep 2020

Mexican cement producer Cemex sold its second dollar bond in three months on Monday, fetching lower pricing at a longer maturity than on its June outing as observers saw a slim new issue concession amid what one analyst called recent “insatiable” demand for the credit.

Cemex set initial price thoughts at 5.625% for a BB/BB- rated senior secured 10 year non-call five benchmark, attracting $6bn of orders, allowing the company to offer guidance of 5.375%, plus or minus 12.5bp. 

As has been the case on several recent deals where both EM and US corporate ...

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