The Mexican cemexone of the largest cement producers in the world, reported this Friday the issuance of long-term stock certificates related to sustainability for 5.5 billion Mexican pesos (about US$322.6 million).
The settlement of the issued bond, with the HSCB bank as intermediary, is anticipated for next February 20 “and is subject to compliance with customary closing conditions for this type of operations”Cemex said in a statement.
The issuance of these bonds related to the sustainability It consisted of two available series: CEMEX 23L, for an amount of 2,000 million Mexican pesos (US$ 117.3 million) at a variable rate for 2.6 years; and CEMEX 23-2L, for 3,500 million pesos (US$ 205.3 million) at a variable rate for 6.6 years.
“The net resources obtained from the reopening of issues will be used to pay debt, seeking to accelerate the path to an investment grade credit rating”highlighted Cemex.
In addition, the Mexican cement company indicated that certain terms of the long-term stock certificates are linked to compliance with the scope 1 and 2 net carbon emissions indicator, as established in its own ‘Financing Framework Linked to Sustainability’.
With these issues, Cemex has issued a total of 11,500 million Mexican pesos (almost US$674.5 million) since its return to the local debt market last year.
“In fact, this is the second transaction that the company has made in less than a year, after not having placed debt in the local Mexican market since 2008,” HSBC detailed in an information note.
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
