Cemex 2013 Annual Report Download - page 84

Notes to the consolidated financial statements
On August 5, 2013, in connection with the issuance of US$1.0 billion principal amount of the 2019 Notes described below, CEMEX
commencedatenderoffertopurchaseuptoUS$925ofthethenoutstanding2016Notes.ThetenderofferexpiredonAugust30,2013
andresultedinthepurchaseofUS$925principalamountof2016Notes.Holderswhose2016Notestenderedwereacceptedforpurchase
receivedabasecompensationof45dollarsper1thousanddollarsprincipalamountof2016Notes,ofwhich,thoseholdersofthe2016
Notesthattenderedatorpriorto5:00p.m.,NewYorkCitytime,onAugust16,2013,receivedanadditionalearlytenderpaymentof30
dollarsper1thousanddollarsprincipalamountof2016Notes.Asaresultofthistenderofferofthe2016Notes,CEMEXpaidatotal,
includingfeesandcostsincurredduringthetenderofferofapproximatelyUS$70($917),ofwhich,approximatelyUS$52($678)associated
withtheportionofthe 2016Notesthat wereextinguishedinaccordancewith IFRSwererecognizedinthestatementof operationsin
2013aspartofnancialexpense.Moreover,proportionalfeesandcostsrelatedtotheissuanceofthe2016NotesforapproximatelyUS$2
($21)thatwerependingforamortizationwererecognizedinthestatementofoperationsin2013aspartofnancialexpense.Inaddition,
approximatelyUS$18($239),correspondingtotheportionofthepremiumofthe2016Notestenderedthatweretreatedasarenancing
underIFRSbyconsideringthat:a)therelevanteconomictermsofthe2019Notesandthe2016Noteswerenotsubstantiallydifferent;and
b)thenalholdersofthe2019Noteswerethesameofsuchportionofthe2016Notes,adjustedthecarryingamountofthe2019Notes,
andsuchamount,togetherwithanyremainingcostspendingforamortizationrelativetothe2016Notesareamortizedovertheremaining
termofthe2019Notes.
OnAugust5,2013,CEMEXannouncedtheissuanceofUS$1.0billionof6.5%SeniorSecuredNotesdueinDecember2019(the“December
2019Notes”)denominatedinU.S.dollars.The2019NoteswereissuedatparandarecallablecommencingonDecember10,2017.The
closingoftheofferingoccurredonAugust12,2013,aftersatisfactionofcustomaryclosingconditions.TheDecember2019Notesshare
thecollateralpledgedforthebenetofthelendersunderCEMEX’sFacilitiesAgreement,datedasofSeptember17,2012,andothersecured
obligationshavingthebenetofsuchcollateral,andareguaranteedbyCEMEXMéxico,S.A.deC.V.,CEMEXConcretos,S.A.deC.V.,Empresas
ToltecadeMéxico,S.A.deC.V.,NewSunwardHoldingB.V.,CEMEXEspaña,CemexAsiaB.V.,CEMEXCorp.,CemexEgyptianInvestments
B.V.,CemexEgyptianInvestmentsIIB.V.,CEMEXFranceGestion(S.A.S.),CemexResearchGroupAG,CemexShippingB.V.andCEMEXUK.
CEMEXusedapproximatelyUS$996ofnetproceedsfromtheofferingtopurchaseUS$925ofthe2016Notesasdescribedabove,and
theremainderforgeneralcorporatepurposes,includingtherepaymentofotherindebtedness.Feesandcostsrelatedtotheissuanceofthe
December2019NotesforapproximatelyUS$4($52)adjustedthecarryingamountofsuchfacilityandareamortizedovertheremaining
termoftheDecember2019Notes.
OnMarch14,2013,CEMEXannouncedtheissuanceofUS$600of5.875%SeniorSecuredNotesdueinMarch2019(the“March2019
Notes”)denominatedinU.S.dollars.TheMarch2019NoteswereissuedatparandarecallablecommencingonMarch25,2016.Theclosing
oftheofferingoccurredonMarch25,2013,aftersatisfactionofcustomaryclosingconditions.TheMarch2019Notessharethecollateral
pledgedforthebenetofthelendersunderCEMEX’sFacilitiesAgreement,datedasofSeptember17,2012,andothersecuredobligations
havingthebenetofsuchcollateral,andareguaranteedbyCEMEXMéxico,S.A.deC.V.,CEMEXConcretos,S.A.deC.V.,EmpresasToltecade
México,S.A.deC.V.,NewSunwardHoldingB.V.,CEMEXEspaña,CEMEXAsiaB.V.,CEMEXCorp.,CEMEXEgyptianInvestmentsB.V.,CEMEX
EgyptianInvestmentsIIB.V.,CEMEXFranceGestion(S.A.S.),CEMEXResearchGroupAG,CEMEXShippingB.V.andCEMEXUK.CEMEXused
approximatelyUS$596ofnetproceedsfromtheofferingfortherepaymentofUS$55oftheremainingindebtednessunderCEMEX’s2009
FinancingAgreement,datedAugust2009,asamended,thepurchaseof€183of4.75%Notesduein2014,issuedbyCEMEXFinanceEurope
B.V.,andtheremainderforgeneralcorporatepurposes,includingtherepaymentofotherindebtedness.Feesandcostsrelatedtotheissuance
oftheMarch2019NotesforapproximatelyUS$4($47)adjustedthecarryingamountofsuchfacilityandareamortizedovertheremaining
termoftheMarch2019Notes.
OnSeptember17,2012,CEMEXconcludedtherenancingprocessofasubstantialportionofitsthenoutstandingdebtundertheFinancing
Agreement,asamendedonseveraldatesduring2009,2010,2011andnallyonSeptember17,2012(the“FinancingAgreement”),with
thecompletionoftheExchangeOfferonSeptember17,2012,asfurtherdescribedinthisnote16.
OnSeptember17,2012,inconnectionwiththeFacilitiesAgreementdescribedelsewhereinthisnote16A,CEMEXissuedUS$500aggregate
principalamountof9.5%SeniorSecuredNotesduein2018(the“September2012Notes”).TheSeptember2012Noteswereissuedin
exchangeforloansandprivateplacementsoutstandingundertheFinancingAgreement.
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