MONTERREY, Mexico--(BUSINESS WIRE)--CEMEX, S.A.B. de C.V. (CEMEX) (NYSE: CX) announced that, as a result of a prepayment made today, it has now reduced the initial exposure under its Financing Agreement by more than half (50.97%), or about US$7.66 billion.
Fernando A. González, Executive Vice President of Finance and Administration, said: “With this payment, we have now met the final prepayment milestone under the Financing Agreement to avoid a 50-basis-point increase in our interest expense. In addition, we have addressed all maturities under the Financing Agreement until December 2013 and continue to comply with all of our financial obligations.”
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.