CEMEX expects that the structure of the notes (subordinated, deferrable interest, no fixed maturity) will assist in reaching its ‘Operation Resilience’ goals of reducing its leverage ratio and regaining an investment grade capital structure. As previously disclosed, in September 2020, to respond to critical market changes resulting from the pandemic, CEMEX launched ‘Operation Resilience’, its medium-term strategy.
“The purpose of this transaction is to further CEMEX in its pursuit of an investment grade capital structure and a commensurate leverage ratio,” said Maher Al-Haffar, CFO of CEMEX.
