Mexico: Cemex has successfully closed a US$3.25bn syndicated credit agreement. The group said that it used the proceeds to repay its previous US$2.65bn facilities agreement. The new agreement will require repayment in November 2026. As the facility is worth 23% more than its previous one, the company said that it will have a stronger liquidity position than previously, resulting in a favourable company risk and credit rating situation.
CEO Fernando Gonzalez said "This new credit agreement represents a major milestone in our path to investment grade as it is our first major syndicated unsecured bank agreement since 2009. It showcases Cemex’s continued access to diversified funding sources while further aligning our financing strategy to our leadership in addressing climate change.” He added “We are starting a new chapter for the company where we shift our strategic balance a bit more towards growth and the advancement of our Climate Action goals.”