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CEMEX SAB de CV Announces Pricing Of Initial Offering Of CEMEX Latam Holdings, S.A


Tuesday, 6 Nov 2012 11:45pm EST 

CEMEX SAB de CV announced that CEMEX Latam Holdings, S.A., a wholly owned subsidiary of CEMEX España, S.A., has priced initial offering of 170,388,000 new common shares, at a price of 12,250 Colombian Pesos per common share. The common shares offered by CEMEX Latam include 148,164,000 new common shares offered in a public offering to investors in Colombia and in a concurrent private placement to eligible investors outside of Colombia, and an additional 22,224,000 new common shares offered in such private placement that are subject to a put option granted to the initial purchasers of the private placement during the 30-day period following closing of the offering. After giving effect to the offering, CEMEX España, S.A., would own approximately 70.54% of CEMEX Latam's outstanding common shares. CEMEX Latam's common shares are listed on the Colombian Stock Exchange under the ticker CLH. The closing of the offering is expected to occur on November 15, 2012. The net proceeds to CEMEX Latam from the offering are estimated to be approximately USD1,105.5 million, after deducting estimated underwriting discounts, commissions and offering expenses. CEMEX Latam expects to use the net proceeds to repay indebtedness owed to CEMEX, who, in turn, expects to apply net proceeds to general corporate purposes, including the repayment of existing indebtedness. 

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