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| Cemex seeks to renegotiate debt Mexico's Cemex, the world's No. 3 cement producer, announced that it has initiated discussions with its core banks to renegotiate the majority of the company's outstanding debt, or approximately $14.5 billion in syndicated and bilateral obligations. This activity would represent a similar effort to Cemex's successful January, 2009 refinancing of a portion of its bilateral and syndicated loan facilities. Separately, the company is indefinitely postponing its previously-announced capital markets debt financing. While the discussions are ongoing, the company intends to meet all its obligations across both bank and capital markets debt. In addition, while Cemex is currently focused on this course of action as the best opportunity to quickly achieve maximum financial flexibility, it will continue to consider other strategies including asset sales. write your comments about the article :: © 2009 Construction News :: home page |