GHR Rechtsanwälte advised CEMEX on its issuance of €400 million aggregate principal amount of new Senior Secured Notes
GHR Rechtsanwälte AG represented CEMEX (NYSE: CX), the global building materials company, on matters of Swiss law in connection with its March 2019 high-yield global debt offering. Different financial institutions acted as initial purchasers and joint bookrunners.
The transaction consisted of an offering of €400 million 3.125% senior secured notes due 2026 issued and sold by CEMEX. The Notes share in the collateral pledged for the benefit of the lenders under a 2017 Facilities Agreement and are guaranteed by several CEMEX Group companies in Mexico, the United States, the United Kingdom, Spain, France, the Netherlands, and Switzerland. CEMEX used the net proceeds from the offering of the Notes for general corporate purposes, including to repay other indebtedness.
The offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The Notes are listed and traded on the Global Exchange Market of Euronext Dublin, which is the exchange regulated market of Euronext Dublin.
CEMEX in-house counsels acted as legal advisors to CEMEX on Mexican (Roger Saldaña and Guillermo F. Hernandez), Spanish (Juan Pelegri) and French (Guillaume Souchon) law matters.
The GHR team was led by partner Marc Grüninger (Corporate/M&A, Finance) and comprised partners Markus Brülhart (Corporate/M&A, Finance), Bruno Hunziker (Corporate/M&A, Finance) and Gerhard Roth (Tax) as well as associates Regina Schlup Guignard (Tax) and Lisa Rüger (Corporate/M&A, Finance).