Mexico's Cemex to redeem nearly $1 billion worth of senior bonds

FILE PHOTO: A cement silo of Mexican cement maker CEMEX is pictured at a cement plant in Monterrey, Mexico February 4, 2018. REUTERS/Daniel Becerril

MEXICO CITY (Reuters) - Mexico's Cemex CEMEXCPO.MX said on Thursday it aims to redeem nearly $1 billion worth of senior bonds, days after the cement maker announced plans to issue about the same amount and type of debt.

The redemption is for 185 million euros ($219.11 million) worth of bonds maturing in 2024 and $750 million worth of bonds maturing in 2025, the company, one of Mexico’s largest, said in a statement to the stock exchange.

The transactions will close on Oct. 19 and Oct. 16, respectively.

Earlier this week, the Monterrey-based company said it plans to issue $1 billion worth of senior bonds maturing in 2030 to fund general operations, including paying off debt.

Reporting by Frank Jack Daniel; Editing by Stefanie Eschenbacher and Tom Brown