About Us - Press Release - CEMEX receives approval from the Mexican securities authority to launch convertible securities transaction
November 11, 2009
CEMEX, S.A.B. de C.V. (NYSE: CX), announced today that it has received approval from the Comisión Nacional Bancaria y de Valores ("CNBV", or the Mexican securities authority) to launch an offer to issue mandatorily convertible securities (the "Securities") through an exchange offer directed to holders of Certificados Bursátiles issued by CEMEX. CEMEX announced its intention to launch this exchange offer on November 4, 2009. These Securities will be mandatorily convertible into Certificados de Participación Ordinaria ("CPOs"), similar to those already outstanding. The transaction is expected to be launched for a minimum amount of Securities of MXN3.0 billion. CEMEX may issue Securities mandatorily convertible into a maximum amount of 400 million CPOs.
The offer period will be from November 11, 2009 to December 9, 2009; but this period could be extended in accordance to the terms described in the prospectus.
CEMEX intends to place these securities with Mexican Pension Funds (Sociedades de Inversión Especializadas en Fondos para el Retiro, or SIEFORES) and other investors outside the United States that are not U.S. persons in transactions exempt from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), in exchange for outstanding debt securities (Certificados Bursátiles) previously issued in the Mexican capital markets, which the company intends to cancel, once the exchange offer is consummated. The Securities and the CPOs issuable upon conversion have not been and will not be registered under the Securities Act or any state securities laws, and they may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.