Adds CFO’s comments, details of deal
MEXICO CITY, Oct 13 (Reuters) – Mexican cement maker Cemex said in a statement on Tuesday that it has extended repayment dates on about $2.1 billion of credit and will prepay some $530 million in loans, as part of a so-called “green” financing deal.
Cemex also changed some $313 million of dollar-denominated credit to Mexican pesos and around $82 million to Euros in the deal, under which the company incorporated green metrics into approximately $3.2 billion of commitments.
Cemex said the transaction meant it had no important debt maturities through July 2023.
“We are pleased with this transaction, which allows us to improve our debt maturity profile and underscores Cemex’s commitment to sustainability as one of our key strategic pillars,” said chief financial officer Maher Al-Haffar.
The green metrics include reducing net CO2 emissions related to cement products and power consumption from green energy. Performance in respect to the metrics could result in adjustments of interest rate margins of up to 5 basis points, Cemex said.
(Reporting by Frank Jack Daniel; Writing by Anthony Esposito)
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