Cemex exchanges two local bond series to release guarantors

Cemex exchanged the certificates of two long-term local debt issuances before the Mexican central securities depository, Indeval. The transaction aimed to modify the conditions governing the number of guarantors on the notes.

The Monterrey-based building materials company said that the bonds, traded under the tickers 'CEMEX 23-2L' and 'CEMEX 26', were previously backed by Cemex Concretos, Cemex Operaciones México, Cemex Innovation Holding, and Cemex Corp. Cemex exercised a right included in the bond terms to release the first three entities from their role as guarantors.

Cemex was able to cut the number of guarantors after meeting the minimum guarantor requirement, a contractual condition that allows reducing backing entities when specific criteria are fulfilled. The company also noted that a separate issuance, 'CEMEX 23L', was amortized on October 1, 2026, which made exchanging its underlying certificate unnecessary.