Debt Information
Debt Information
View information about CEMEX’s debt and other instruments.
| Debt information as of March 31, 2017 | |
|---|---|
| Debt under New Syndicated-Bank Loan Facility | 2,192 |
| U.S. Dollar and Euro Denominated Note ** | 9,246 |
| Mexican Peso Denominated Notes | 36 |
| WC lines & other bank debt | 691 |
| Total debt | 12,164 |
| Perpetual Notes ** | 439 |
| Total debt plus perpetual notes | 12,603 |
| Consolidated funded debt/EBITDA* | 4.07 |
| Interest coverage* | 3.30 |
In millions of U.S. dollars, except ratios.
* Calculated in accordance with our contractual obligations under our Financing Agreement.
** Excludes notes and perpetual notes owned by subsidiaries of CEMEX, S.A.B. de C.V.
Corporate Structure
This chart summarizes Cemex, S.A.B. de C.V.´s ("CEMEX") corporate structure as of March 31, 2017. The chart also shows, unless otherwise indicated, for each company, CEMEX´s approximate direct or indirect percentage equity ownership or economic interest.
The chart has been simplified to show only some of CEMEX´s major holding companies and/or operating companies in the main countries in which CEMEX operates, and/or relevant companies in the main countries in which CEMEX operates, and for relevant companies in which CEMEX holds a significant direct or indirect interest, and does not include all of CEMEX´s operating subsidiaries and its intermediate holding companies.
Maturity Profile
Information as of March 31, 2017
Consolidated debt maturity profile
Millions of U.S. dollars
1CEMEX has perpetual debentures totaling US$439 million
2Convertible Subordinated Notes include only the debt component of US$1,166 million; total notional amount is about US$1,211 million
Credit Ratings
Information as of March 31, 2017
CEMEX’s credit ratings on a consolidated and national (MX) scale.
| Standard & Poor's | |||
|---|---|---|---|
| Rating | Outlook | Last Update | |
| Long-Term Global | BB- | Stable | January 30, 2017 |
| Long-Term National | mxA- | ||
| Short-Term National | mxA-2 | ||
| Fitch | |||
|---|---|---|---|
| Rating | Outlook | Last Update | |
| Long-Term Global | BB- | Positive | March 13, 2017 |
| Long-Term National | A (mex) | ||
| Short-Term National | F1 (mex) | ||
These ratings are subject to change and it is advised that users check with the relevant ratings agencies for the latest information
U.S. Dollar and Euro Denominated Notes
Information as of March 31, 2017
| CEMEX S.A.B. de C.V., U.S. $690,000,000 - Subordinated Convertible Notes | |
|---|---|
| Coupon: | 3.75% |
| Conversion price: | $ 8.9179 (ADS) |
| Issue date: | March 15, 2011 |
| Due date: | March 15, 2018 |
| Guarantors: | None |
| CUSIP: | 151290BA0 (144A) restricted, P2253THW2 (Regulation S) restricted, 151290BC6 unrestricted |
| ISIN: | US151290BA07 (144A) restricted, USP2253THW29 (Regulation S) restricted, US151290BC62 unrestricted |
Note: Under MFRS, the Optional Convertible Subordinated Notes will be recorded as debt in our balance sheet; however, the Optional Convertible Securities Subordinated Notes will not be considered as debt for purposes of the leverage ratio calculations under the Financing Agreement
| CEMEX S.A.B. de C.V., U.S. $313,391,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 3 Month LIBOR + 4.75% |
| Issue date: | October 2, 2013 |
| Due date: | October 15, 2018 (callable on or after July 15, 2018) |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V. ,CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| CUSIP: | P22575 AG2(Regulation S) 151290BL6 (144A) |
| ISIN: | US151290BL61 (144A) US22575AG20 (Regulation S) |
| CEMEX S.A.B. de C.V., U.S. $618,168,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 6.500% |
| Issue date: | August 12, 2013 |
| Due date: | December 10, 2019 (callable on or after December 10, 2017) |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V. ,CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| CUSIP: | 151290BJ1 (144A) P2253TJD2 (Regulation S) |
| ISIN: | US151290BJ16 (144A) USP2253TJD20 (Regulation S) |
| CEMEX S.A.B. de C.V., U.S. $200,000,000 - Subordinated Convertible Notes | |
|---|---|
| Coupon: | 3.720% |
| Conversion price: | $ 11.4463 (ADS) |
| Issue date: | March 13, 2015 |
| Due date: | March 15, 2020 |
| Guarantors: | None |
| CUSIP: | 151290 BQ5 (144A) restricted, 151290 BR3 (144A) unrestricted |
| ISIN: | US151290BQ58 (144A) restricted, US151290BR32 unrestricted |
Note: Under MFRS, the Optional Convertible Subordinated Notes will be recorded as debt in our balance sheet; however, the Optional Convertible Securities Subordinated Notes will not be considered as debt for purposes of the leverage ratio calculations under the Financing Agreement
| CEMEX S.A.B. de C.V., U.S. $321,114,000 - Subordinated Convertible Notes | |
|---|---|
| Coupon: | 3.720% |
| Conversion price: | $ 11.4463 (ADS) |
| Issue date: | May 28, 2015 |
| Due date: | March 15, 2020 |
| Guarantors: | None |
| CUSIP: | 151290 BT9 (144A) unrestricted |
| ISIN: | US151290BT97 (144A) unrestricted |
Note: Under MFRS, the Optional Convertible Subordinated Notes will be recorded as debt in our balance sheet; however, the Optional Convertible Securities Subordinated Notes will not be considered as debt for purposes of the leverage ratio calculations under the Financing Agreement
| CEMEX S.A.B. de C.V., U.S. $340,665,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 7.250% |
| Issue date: | October 2, 2013 |
| Due date: | January 15, 2021 (callable on or after January 15, 2018) |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V. , CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| CUSIP: | P22575 AF4(Regulation S) 151290 BK8 (144A) |
| ISIN: | US151290BK88 (144A) US22575AF47 (Regulation S) |
| CEMEX S.A.B. de C.V. €400,000,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 4.750% |
| Issue date: | September 11, 2014 |
| Due date: | January 11, 2022 |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V. ,CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| ISIN: | XS1028947155 (144A) XS1028946348 (Regulation S) |
| CEMEX S.A.B. de C.V. €550,000,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 4.375% |
| Issue date: | March 5, 2015 |
| Due date: | March 5, 2023 |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V. ,CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| CUSIP: | 119800757 (144A) 119800269 (Regulation S) |
| ISIN: | XS1198007574 (144A) XS1198002690 (Regulation S) |
| CEMEX S.A.B. de C.V., U.S. $1,070,625,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 5.700% |
| Issue date: | September 11, 2014 |
| Due date: | January 11, 2025 |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V. ,CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| CUSIP: | P2253TJE0 (Regulation S) 151290BM4 (144A) |
| ISIN: | US151290BM45 (144A) USP2253TJE0 (Regulation S) |
| CEMEX S.A.B. de C.V., U.S. $750,000,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 6.125% |
| Issue date: | March 5, 2015 |
| Due date: | May 5, 2025 |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V. ,CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| CUSIP: | P2253T JG5 (Regulation S) 151290 BS1 (144A) |
| ISIN: | US151290BS15 (144A) USP2253TJG50 (Regulation S) |
| CEMEX Finance LLC, U.S. $1,043,269,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 9.375% |
| Issue date: | October 12, 2012 |
| Due date: | October 12, 2022 (callable on or after October 12, 2017) |
| Guarantors: | CEMEX, S.A.B. de C.V., CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK., CEMEX Egyptian Investments B.V. and CEMEX Egyptian Investments II B.V. |
| CUSIP: | 12516U AC9 (144A) U12763 AC9 (Regulation S) |
| ISIN: | US12516UAC99 (144A) USU12763AC92 (Regulation S) |
| CEMEX Finance LLC, U.S. $990,075,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 6.000% |
| Issue date: | April 1, 2014 |
| Due date: | April 1, 2024 (callable on or after April 1, 2019) |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V., CEMEX Egyptian Investments II B.V. and CEMEX S.A.B. de C.V. |
| CUSIP: | U12763 AD7 (Regulation S) 12516U AD7 (144A) |
| ISIN: | US12516UAD72 (144A) USU12763AD75 (Regulation S) |
| CEMEX Finance LLC, €400,000,000 - Senior Secured Notes | |
|---|---|
| Coupon: | 5.250% |
| Issue date: | April 1, 2014 |
| Due date: | April 1, 2021 (callable on or after April 1, 2017) |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V., CEMEX Egyptian Investments II B.V. and CEMEX S.A.B. de C.V. |
| ISIN: | XS1028960174 (Regulation S) XS1028959911 (144A) |
| CEMEX Materials, U.S. $149,897,000 - Notes | |
|---|---|
| Coupon: | 7.700% |
| Issue date: | April 1, 2003 |
| Due date: | July 21, 2025 |
| Guarantors: | CEMEX Corp. |
| CUSIP: | 766879AA8 (144A) |
| ISIN: | US766879AA85 (144A) USU7665RAA69 (Regulation S) |
| CEMEX S.A.B. de C.V., U.S. $1,000,000,000- Senior Secured Notes | |
|---|---|
| Coupon: | 7.750% |
| Issue date: | March 16, 2016 |
| Due date: | April 16, 2026 |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V., New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK., CEMEX Egyptian Investments B.V., CEMEX Egyptian Investments II B.V. and CEMEX Finance LLC |
| CUSIP: | 151290 BU6 (144A) P225 3T JK6 (Regulation S) |
| ISIN: | US151290BU60 (144A) USP2253TJK62 (Regulation S) |
| CEMEX Finance LLC, €400,000,000 -Senior Secured Notes | |
|---|---|
| Coupon: | 4.625% |
| Issue date: | June 14, 2016 |
| Due date: | June 15, 2024 (callable on or after June 15, 2020) |
| Guarantors: | CEMEX México, S.A. de C.V., CEMEX España, S.A., CEMEX Corp., CEMEX Concretos, S.A. de C.V., Empresas Tolteca de México, S.A. de C.V.,New Sunward Holding B.V., CEMEX Research Group AG., CEMEX Shipping B.V., CEMEX Asia B.V., CEMEX France Gestion (S.A.S.), CEMEX UK.,CEMEX Egyptian Investments B.V., CEMEX Egyptian Investments II B.V.and CEMEX S.A.B. de C.V. |
| ISIN: | XS1433214449 (Regulation S) XS1433214100 (144A) |
Mexican Peso Denominated Notes
Information as of March 31, 2017
Certificados Bursátiles
| CEMEX S.A.B. de C.V. - CEMEX 07-2U | |
|---|---|
| Outstanding Amount: | UDIS 116,530,800 |
| Coupon: | 4.400% |
| Issue date: | November 30, 2007 |
| Due date: | November 17, 2017 |
| Guarantors: | CEMEX México, S.A. de C.V., and Empresas Tolteca de México, S.A. de C.V. |
| Ticker: | CEMEX 07-2U |
Mandatorily Convertible Securities
| CEMEX S.A.B. de C.V., MXN $4,126,538,400 – Mandatorily Convertible Securities | |
|---|---|
| Coupon: | 10.00% |
| Initial conversion price: | MXN 20.45 per CPO, calculated as the volume-weighted average price of the CPO for the 10 trading days prior to the closing of the offer multiplied by a conversion premium of approximately 1.65. Mandatory conversion events include, among others, the price of the CPO reaching MXN 30.68, or upon maturity. |
| Issue date: | December 10, 2009 |
| Due date: | November 28, 2019 |
| Guarantors: | CEMEX Mexico S.A. de C.V., and Empresas Tolteca de México S.A. de C.V. (only for the interest payments) |
| CUSIP: | NA |
| ISIN: | MX02CE020001 |
Note: Under MFRS, the Mandatory Convertible Securities represent a combined instrument with liability and equity components. The liability component corresponds to the net present value of interest payments due under the Mandatory Convertible Securities, assuming no early conversion, and was recognized under "Other Financial Obligations" in our balance sheet. The equity component, represents the difference between principal amount and the liability component and was recognized within "Other equity reserves" net of commissions in our balance sheet.
Perpetual Notes
Information as of March 31, 2017
| C5 Capital (SPV) Limited* | |
|---|---|
| Outstanding Amount: | U.S. $61,130,000 |
| Coupon: | Fixed rate of 6.196% from date of issuance and until December 31, 2011 (first call date). Floating rate of 3-month LIBOR + 427.7 bps beginning on January 1, 2012 and thereafter |
| Issue date: | December 18, 2006 |
| Call date: | December 31, 2011 and on each interest payment date thereafter |
| Guarantors: | CEMEX S.A.B. de C.V., CEMEX México S.A. de C.V., and New Sunward Holding B.V. |
| CUSIP: | 12526YAA3 (144A) G4490RAA0 (Regulation S) |
| ISIN: | US12526YAA38 (144A) USG4490RAA08 (Regulation S) |
| C8 Capital (SPV) Limited* | |
|---|---|
| Outstanding Amount: | U.S. $135,385,000 |
| Coupon: | Fixed rate of 6.640% from date of issuance and until December 31, 2014 (first call date). Floating rate of 3-month LIBOR + 440 bps beginning on January 1, 2015 and thereafter |
| Issue date: | February 12, 2007 |
| Call date: | December 31, 2014 and on each interest payment date thereafter |
| Guarantors: | CEMEX S.A.B. de C.V., CEMEX México S.A. de C.V., and New Sunward Holding B.V. |
| CUSIP: | 12518TAA4 (144A) G2024RAA9 (Regulation S) |
| ISIN: | US12518TAA43 (144A) USG2024RAA98 (Regulation S) |
| C10 Capital (SPV) Limited* | |
|---|---|
| Outstanding Amount: | U.S. $174,680,000 |
| Coupon: | Fixed rate of 6.722% from date of issuance and until December 31, 2016 (first call date). Floating rate of 3-month LIBOR + 471 bps beginning on January 1, 2017 and thereafter |
| Issue date: | December 18, 2006 |
| Call date: | December 31, 2016 and on each interest payment date thereafter |
| Guarantors: | CEMEX S.A.B. de C.V., CEMEX México S.A. de C.V., and New Sunward Holding B.V. |
| CUSIP: | 126513AA8 (144A) G23491AA4 (Regulation S) |
| ISIN: | US126513AA84 (144A) USG23491AA40 (Regulation S) |
| C10-EUR Capital (SPV) Limited | |
|---|---|
| Outstanding Amount: | €63,733,000 |
| Coupon: | Fixed rate of 6.277% from date of issuance and until June 30, 2017 (first call date). Floating rate of 3-month EURIBOR + 479 bps beginning on July 31, 2017 and thereafter |
| Issue date: | May 9, 2007 |
| Call date: | June 30, 2017 and on each interest payment date thereafter |
| Guarantors: | CEMEX S.A.B. de C.V., CEMEX México S.A. de C.V., and New Sunward Holding B.V. |
| CUSIP: | NA |
| ISIN: | XS0300179198 (Regulation S) |
These notes have no fixed maturity date and do not represent a contractual payment obligation for us. Based on their characteristics, these notes, issued through special purpose vehicles, or SPVs, qualify as equity instruments under MFRS and are classified within non-controlling interest as they were issued by consolidated entities, considering that there is no contractual obligation to deliver cash or any other financial asset, the Perpetual Notes do not have any maturity date, meaning that they were issued to perpetuity, and we have the unilateral right to defer indefinitely the payment of interest due on the notes.
* Includes perpetual notes owned by subsidiaries of CEMEX, S.A.B. de C.V.
Fixed Income Analysts
| Institution | Analyst |
|---|---|
| Banorte-IXE | Idalia Céspedes |
| Barclays | Petr Grishchenko |
| BofA - ML | Anne Milne |
| Citi | Nuno Pinto |
| Credit Suisse | Jamie Nicholson |
| CreditSights | Andrew Belton |
| J.P. Morgan | Julio Arantes |
| Santander | Aaron Holsberg |
| Scotia Capital | Joe Kogan |
| UBS | Sean Glickenhaus |
- Please note that the list may not be complete and is subject to change.
- View a list of Equity Analysts
Questions?
You may find answers to our most frequently asked questions in our FAQ's page. If your question is unanswered, please contact the investor relations team at the location of your convenience.