UPDATE 1-Cemex sells bond, covers debt until 2013

martes 29 de marzo de 2011 22:03 CST
 

* Third issue this year by the cement company

* Funds to help pay $2.3 billion in debt in 2011

* Company says will have 98 percent of that money

* Says covers maturities until 2013

(Recasts with company statement, background)

By Robin Emmott and Gabriela Lopez

MONTERREY, Mexico, March 29 (Reuters) - Global cement maker Cemex sold $800 million in 4-year bonds on Tuesday, its third bond issue this year, and said it now had almost enough money to pay creditors and avoid a penalty.

Cemex , which has been juggling its $18 billion debt since its ambitious takeover of Australian rival Rinker in 2007, sold the senior secured floating rate bonds denominated in dollars, the company said in a statement.

The world's No.3 cement maker sold $1 billion of bonds in January and $1.67 billion of convertible notes earlier this month, pulling together funds to repay $2.3 billion in debt this year under a deal with its creditors and to avoid a $200 million fine.   Continuación...