Slaughter and May advised CEMEX, S.A.B. de C.V. on its U.S.$4.05 billion facilities agreement

Slaughter and May has advised CEMEX, S.A.B. de C.V., the global building materials company, on a new syndicated facilities agreement for a total amount of U.S.$4.05 billion with twenty financial institutions. The facilities will be used to refinance the pre-existing U.S.$3.68 billion facilities agreement dated 19 September 2014, and for general corporate purposes. The terms of the new facilities agreement represent an improvement on the terms of the existing facility and provide CEMEX with greater operational and financial flexibility.

The main terms and conditions of the new facility agreement include:

  • A total weighted average life of 4.3 years with a final maturity in July 2022;
  • Approximately the equivalent of U.S.$2.92 billion of commitments under term loan tranches, including U.S.$1.61 billion, EUR 741 million and GBP 344 million, amortising in five equal semi-annual payments, beginning in July 2020; and
  • Approximately U.S.$1.13 billion of commitments under a revolving credit facility with a five-year bullet maturity.

Slaughter and May worked as a team with CEMEX’s in-house counsel in Mexico, Spain and France.  The law firms advising CEMEX on security confirmation elements in other jurisdictions included GHR Rechtsanwälte AG (Switzerland) and Warendorf (the Netherlands).

Robert Byk Partner
Harry Walker-White Associate