Mexico: Cemex has announced the amendment of its facilities agreement with several financial institutions to alter its consolidated leverage and coverage covenants. Under the new terms, the leverage covenant will increase to 6.75x for June 2020 and to 7.00x for September 2020 through to March 2021 and decrease thereafter.
Cemex chief financial officer (CFO) Maher Al-Haffar said, “We are very pleased with the completion of this process and with the support of our lenders. We are proud of our track record in working together with our bank group in both good and challenging time.”
Cemex said that as part of the amendment it has agreed to ‘temporarily limit certain flexibilities related to capital expenditure.’