Cemex 2012 Annual Report Download - page 35

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CEMEX completes exchange oers for its 2014
Eurobonds and Perpetual Notes
On March 26, 2012, CEMEX completed its five sepa-
rate exchange offers (the “Exchange Offers”) made
on a private placement basis to exchange currently
outstanding Euro-denominated 4.75% Notes due 2014
(the “Eurobonds”) and outstanding series of Perpetual
Debentures for new senior secured notes to be denomi-
nated in dollars or in euros.
As a result of the Exchange Offers, CEMEX’s overall
indebtedness (including the Perpetual Debentures) was
reduced by approximately US$131 million (calculated
at an exchange rate of 1.3191 U.S. dollars per euro).
APPROX. PERCENTAGE OF
OUTSTANDING AMOUNTS, BY
APPROXIMATE AGGREGATE SERIES EXCLUDING THOSE
SECURITY TENDERED PRINCIPAL AMOUNT TENDERED OWNED BY CEMEX, IF ANY
Eurobonds €469,619,000 53%
C5 6.196% Perpetual Debentures US$42,750,000 38%
C8 6.640% Perpetual Debentures US$147,897,000 51%
C10 6.722% Perpetual Debentures US$159,809,000 46%
C10-EUR 6.277% Perpetual Debentures €76,874,000 52%
Total of all Perpetual Debentures
(calculated at an exchange ratio of
1.3191 U.S. dollars per euro) US$451,860,493 48%
Results as of 11:59 p.m., New York City Time, on March 23, 2012
The tendered securities were accepted for exchange
into (1) €179,219,000 aggregate principal amount of
9.875% Euro-denominated Senior Secured Notes due
2019 and (2) US$703,861,000 aggregate principal
amount of 9.875% U.S. Dollar-denominated Senior Se-
cured Notes due 2019 (collectively, the “New Notes”).
The issuer of New Notes is CEMEX España, S.A., acting
through its Luxembourg branch (the “Issuer”).
The New Notes (i) represent senior obligations of
the Issuer, (ii) are unconditionally guaranteed by the
same guarantors of the dual currency notes issued in
connection with the Perpetual Debentures: CEMEX,
CEMEX México, and New Sunward, and (iii) share the
same collateral that secures the obligations under the
Financing Agreement, dated August 14, 2009, as
amended, and other senior secured debt having the
benefit of such collateral.
Mexico City International Airport
35
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