CEMEX’s $3.25 Billion Sustainability-Linked Senior Unsecured Facilities

Skadden and GHR Rechtsanwälte advised Cemex on the transaction.
Cleary Gottlieb and Galicia Abogados represented the lenders.

CEMEX executed $3.25 billion syndicated unsecured credit agreement with an ESG component. The credit agreement consists of a $1.5 billion, 5-year amortizing term loan and a $1.75 billion, 5-year committed revolving credit facility.

CEMEX intends to use the proceeds to fully repay its previous facilities agreement and for general corporate purposes.

The Joint Bookrunners and Joint Lead Arrangers under the 2021 Credit Agreement are BofA Securities Inc., BNP Paribas, Citigroup Global Markets Inc. and JPMorgan Chase Bank, N.A. The Sustainability Structuring Agent for the 2021 Credit Agreement is ING Capital LLC.

CEMEX is one of the largest cement companies in the world based on annual installed cement production capacity and one of the largest ready-mix concrete companies worldwide. CEMEX primarily engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, aggregates, and clinker.

Skadden, Arps, Slate, Meagher & Flom advised CEMEX with Steven Messina, Gregory A. Fernicola, Adam Waitman,  Wentian Huang, Andrew Alvarez and Jessie Sarkis.

In Switzerland, GHR Rechtsanwälte AG advised CEMEX with a team including Marc Grüninger, Markus Brülhart, Gerhard Roth, Jil Suter and Michelle Wolf.

GHR worked with CEMEX’s in-house counsel in Mexico (Roger Saldaña Madero, Guillermo F. Hernandez and Gabriel Deschamps Saiz).

The Cleary deal team included partners Duane McLaughlin (Picture) and Manuel Silva, associates Brayan Acevedo Vazquez and Sofía Sequeira Murillo, and international lawyer Sofia Montes de Oca Marquez. Partner Jason Factor and associate Zhiyuan Zuo advised on tax matters. Partner-elect Chase Kaniecki and law clerk Eric Hazoury advised on FCPA and other regulatory related matters.

Galicia Abogados advised the lenders with a team including  Guillermo Pérez Santiago, Rosemarie McLaren, José Alejandro Cortés Serrano and Claudio Díaz Maciel.

 

Involved fees earner: Brayan Acevedo Vazquez – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Chase Kaniecki – Cleary Gottlieb Steen & Hamilton; Duane McLaughlin – Cleary Gottlieb Steen & Hamilton; Sofia Montes de Oca – Cleary Gottlieb Steen & Hamilton; Sofía Sequeira-Murillo – Cleary Gottlieb Steen & Hamilton; Manuel Silva – Cleary Gottlieb Steen & Hamilton; Zhiyuan Zuo – Cleary Gottlieb Steen & Hamilton; José Alejandro Cortés Serrano – Galicia Abogados, S.C; Claudio Díaz – Galicia Abogados, S.C; Rosemarie McLaren – Galicia Abogados, S.C; Guillermo Pérez Santiago – Galicia Abogados, S.C; Markus Brülhart – GHR Rechtsanwälte; Marc Grüninger – GHR Rechtsanwälte; Gerhard Roth – GHR Rechtsanwälte; Jil Suter – GHR Rechtsanwälte; Michelle Wolf – GHR Rechtsanwälte; Andrew Alvarez – Skadden; Gregory Fernicola – Skadden; Wentian Huang – Skadden; Steven Messina – Skadden; Adam Waitman – Skadden;

Law Firms: Cleary Gottlieb Steen & Hamilton; Galicia Abogados, S.C; GHR Rechtsanwälte; Skadden;

Clients: Bank of America Securities; BNP Paribas; CEMEX; Citigroup Global Markets Ltd; JP Morgan Chase & Co.;