Cemex a Stock to Watch on Bond Offering

Published on Tuesday, 08 December 2009 22:47 Written by Christian Paolinetti

Monterrey, Dec. 8th (TradersHuddle.com) – The largest cement maker in the Americas, Cemex (NYSE:CX), the largest cement maker in the Americas, is looking to sell bonds denominated in dollars and euros tomorrow as it seeks to repay loans from a $15 billion debt restructuring.

Cemex is returning to the bond market nine months after the company’s failure to sell $500 million of securities forced it to extend payments on its bank debt, Cemex (NYSE:CX) is tapping international bonds markets as a rebound in Mexico’s economy sparks demand for the country’s corporate debt.

Speculation is that the Monterrey, Mexico based company may sell benchmark dollar bonds maturing in seven years to yield about 9.75% and 300 million euros of eight-year bonds to yield about 9.875%.

Shares of the cement maker in New York were hit hard today down 3.52% to $10.97, as concerns on economic growth mount.