CEMEX’s $1 Billion Subordinated Hybrid Notes Offering

Cleary Gottlieb represented the initial purchasers in the offering.

CEMEX executed its $1 billion subordinated hybrid notes offering. 

CEMEX intends to use the proceeds of the offerings for general corporate purposes, including to repay existing indebtedness. The offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transaction priced on June 3, 2021, and closed on June 8, 2021.

CEMEX is one of the largest cement companies in the world based on annual installed cement production capacity and one of the largest ready-mix concrete companies worldwide. CEMEX primarily engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, aggregates, and clinker.

Cleary Gottlieb represented initial purchasers BofA Securities, Citigroup and HSBC with capital markets team included partners Duane McLaughlin (Picture) and Manuel Silva, associates Juliette Todd and Jose Andres de Saro, and law clerk Xu Yang. Counsel Jonathan Gifford and associate Zhiyuan Zuo advised on tax matters. Senior attorney James Corsiglia advised on FCPA and other regulatory related matters.

Involved fees earner: James Corsiglia – Cleary Gottlieb Steen & Hamilton; Jose Andres de Saro – Cleary Gottlieb Steen & Hamilton; Jonathan Gifford – Cleary Gottlieb Steen & Hamilton; Duane McLaughlin – Cleary Gottlieb Steen & Hamilton; Manuel Silva – Cleary Gottlieb Steen & Hamilton; Juliette Todd – Cleary Gottlieb Steen & Hamilton; Zhiyuan Zuo – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Bank of America Securities; Citigroup Global Markets Ltd; HSBC;

Author: Martina Bellini

CEMEX’s $1 Billion Subordinated Hybrid Notes Offering

Cleary Gottlieb represented the initial purchasers in the offering.

CEMEX executed its $1 billion subordinated hybrid notes offering. 

CEMEX intends to use the proceeds of the offerings for general corporate purposes, including to repay existing indebtedness. The offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transaction priced on June 3, 2021, and closed on June 8, 2021.

CEMEX is one of the largest cement companies in the world based on annual installed cement production capacity and one of the largest ready-mix concrete companies worldwide. CEMEX primarily engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, aggregates, and clinker.

Cleary Gottlieb represented initial purchasers BofA Securities, Citigroup and HSBC with capital markets team included partners Duane McLaughlin (Picture) and Manuel Silva, associates Juliette Todd and Jose Andres de Saro, and law clerk Xu Yang. Counsel Jonathan Gifford and associate Zhiyuan Zuo advised on tax matters. Senior attorney James Corsiglia advised on FCPA and other regulatory related matters.

Involved fees earner: James Corsiglia – Cleary Gottlieb Steen & Hamilton; Jose Andres de Saro – Cleary Gottlieb Steen & Hamilton; Jonathan Gifford – Cleary Gottlieb Steen & Hamilton; Duane McLaughlin – Cleary Gottlieb Steen & Hamilton; Manuel Silva – Cleary Gottlieb Steen & Hamilton; Juliette Todd – Cleary Gottlieb Steen & Hamilton; Zhiyuan Zuo – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Bank of America Securities; Citigroup Global Markets Ltd; HSBC;

Author: Martina Bellini