Simpson Thacher represented the underwriters, led by J.P. Morgan, Citi and Santander Securities, in an approximately $1.9 billion global public equity offering (including ADSs) by CEMEX, S.A.B. de C.V. The global offering included an international offering registered with the Securities and Exchange Commission and a concurrent offering in Mexico registered with the CNBV, the Mexican securities authority. The ADSs are listed on the New York Stock Exchange under the symbol “CX”.
CEMEX will use the net proceeds of the global offering to repay a portion of its over $19 billion bank debt in accordance with the terms of its recent debt restructuring.
CEMEX is the third largest cement company in the world, the largest ready-mix concrete company and one of the largest traders of cement and clinker. CEMEX is a Mexican corporation with its headquarters in Monterrey, Mexico.
The Simpson Thacher team for the transaction included Gary Sellers, Jaime Mercado, Juan Francisco Mendez, Rafael Berckholtz, Lulu Liu and Ivan Burin (Capital Markets), Michael Isby (Environmental), Jonathan Cantor and Aaron Cohen (Tax), and Andrew Pagliughi (Blue Sky). Paralegals Christopher Stone and Alexander Sprinzen provided valuable assistance.