MEXICO’S CEMEX TO REDEEM NEARLY $1-B SENIOR BONDS

Mexico's Cemex said 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, Frank Jack Daniel reported for Reuters.

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.

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