About Us - Press Release - CEMEX receives consents from holders of its 2009 notes and extends its consent solicitation for its 2006 notes
October 5, 2004
CEMEX, S.A. de C.V. ("CEMEX") (NYSE: CX) announced today that it has received consents from holders representing a majority of the principal amount of its outstanding 9.625% Notes due 2009 (the "2009 Notes") authorizing certain proposed amendments to the indentures governing the 2009 Notes.
The consents were delivered pursuant to CEMEX's previously announced cash tender offer and consent solicitation for any and all of its outstanding 2009 Notes. The consent solicitation relating to the 2009 Notes expired yesterday at 12:00 noon New York City time (the "2009 Note Consent Expiration Time").
Holders of the 2009 Notes who have tendered their 2009 Notes and consented prior to the 2009 Note Consent Expiration Time will receive a total consideration of U.S.$1,221.10 per $1,000 principal amount of the 2009 Notes tendered (which includes the consent payment of U.S.$10.00). Holders of the 2009 Notes who have consented prior to the 2009 Note Consent Expiration Time without tendering their 2009 Notes will receive only the consent payment of U.S.$10.00 per $1,000 principal amount of the 2009 Notes with respect to which consents are delivered. Holders of the 2009 Notes who tender their securities before the expiration of the tender offer will not receive the consent payment portion of the total consideration set forth above.
The tender offer for the 2009 Notes is currently scheduled to expire at 12:00 noon, New York City time, on Thursday, October 14, 2004. Information regarding payment, tender and delivery procedures and conditions of the 2009 Note tender offer and consent solicitation and CEMEX's previously announced cash tender offer and consent solicitation for any and all of its outstanding 12¾% Notes due 2006 (the "2006 Notes") are contained in CEMEX's Offer to Purchase and Consent Solicitation Statement dated September 14, 2004 (the "Offer to Purchase and Consent Solicitation Statement").
CEMEX also announced today that its solicitation of consents to proposed amendments to the indenture governing the 2006 Notes, which had originally been scheduled to expire yesterday at 12:00 noon, New York City time, has been extended until 12:00 noon, New York City time, on Thursday, October 14, 2004. The tender offer for the 2006 Notes is also currently scheduled to expire at 12:00 noon, New York City time, on Thursday, October 14, 2004.
In addition, CEMEX announced that holders of the 2006 Notes will no longer be entitled to withdraw tenders of securities or revoke consents.
Based on preliminary counts, as of 12:00 noon, New York City time, on October 4, 2004, consents representing 49.32% of the aggregate principal amount of the outstanding 2006 Notes had been delivered. The proposed amendments require the consents of holders of not less than a majority in aggregate principal amount of the 2006 Notes.
The dealer manager for the tender offers and the solicitation agent for the consent solicitations is J.P. Morgan Securities Inc. Copies of the Offer to Purchase and Consent Solicitation Statement can be obtained from D.F. King & Co., Inc., the information agent (Tel: 800-431-9642).
CEMEX is a leading global producer and marketer of cement and ready-mix products, with operations primarily concentrated in the world's most dynamic cement markets across five continents. CEMEX combines a deep knowledge of the local markets with its global network and information technology systems to provide world-class products and services to its customers, from individual homebuilders to large industrial contractors. For more information, visit www.cemex.com.