Mexico's Cemex completes $1 bln tender offer for 9.5 pct notes
MEXICO CITY Aug 19 (Reuters) - Mexico's Cemex, one of the biggest cement makers in the world, on Monday said it paid $1.01 billion in a tender offer after more bond holders than expected submitted notes for tender.
The company has been seeking to reduce debt and interest payments after it borrowed heavily for acquisitions and was then rocked by the U.S. housing crisis.
Cemex had offered to pay $1,075 for every $1,000 tendered up to $925 million for its 9.5 percent notes due to expire in 2016.
The company said holders of about $1.33 billion worth of notes submitted them for the tender offer.
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