Cemex set for Madrid meeting with lenders

28 Apr 2009

Cemex España, the subsidiary of the Mexican cement group, is set for a meeting with its major lenders in Madrid tomorrow (Wednesday) to reach basic terms on a restructuring programme. The move is part of the parent company’s attempt to reschedule $14.5bn debt maturing over the next three years.

Cemex, rated B-/B, has total debt of about $23bn, $4bn of which matures over the next three years. It announced last month that it was renegotiating $14.5bn of syndicated and bilateral loans, including some Cemex España’s debt.

The move came after Cemex had to shelve plans to issue a ...

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