UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May, 2020
Commission File Number: 001-14946
CEMEX, S.A.B. de C.V.
(Translation of Registrants name into English)
Avenida Ricardo Margáin Zozaya #325, Colonia Valle del Campestre,
San Pedro Garza García, Nuevo León 66265, México
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Contents
1. | Press release dated May 25, 2020, announcing that CEMEX, S.A.B. de C.V. (NYSE:CX) has successfully amended its facilities agreement, dated as of July 19, 2017 (the 2017 Credit Agreement). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, CEMEX, S.A.B. de C.V. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CEMEX, S.A.B. de C.V. | ||||||
(Registrant) | ||||||
Date: May 26, 2020 | By: | /s/ Rafael Garza Lozano | ||||
Name: Rafael Garza Lozano | ||||||
Title: Chief Comptroller |
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EXHIBIT INDEX
EXHIBIT NO. |
DESCRIPTION | |
1. |
Press release dated May 25, 2020, announcing that CEMEX, S.A.B. de C.V. (NYSE:CX) has successfully amended its facilities agreement, dated as of July 19, 2017 (the 2017 Credit Agreement). |
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Exhibit 1
Media Relations | Investor Relations | Analyst Relations | ||
Jorge Perez | Eduardo Rendon | Lucy Rodriguez | ||
+52(81) 8888-4334 | +52(81) 8888-4256 | +1(212) 317-6007 | ||
mr@cemex.com | ir@cemex.com | ir@cemex.com |
CEMEX SUCCESSFULLY AMENDS ITS MAIN BANK AGREEMENT
MONTERREY, MEXICO. MAY 25, 2020 CEMEX, S.A.B. de C.V. (CEMEX) (NYSE: CX) announces that it has successfully amended its Facilities Agreement, dated as of July 19, 2017, entered into with several financial institutions (as amended, the Facilities Agreement).
The amendment is one of the steps in the overall strategy adopted by CEMEX to respond to the coronavirus (COVID-19) pandemic and the effects of COVID-19 on the global economy. CEMEX has modified the consolidated leverage and coverage covenants in the Facilities Agreement, which should allow CEMEX to manage their compliance. Under the terms of the amendment, the leverage covenant increases to 6.75x for June 2020 and to 7.00x for September 2020 through March 2021; and decreases thereafter. As of the end of the first quarter of 2020, CEMEX reported a consolidated leverage ratio of 4.40x.
We are very pleased with the completion of this process and with the support of our lenders, said Maher Al-Haffar, CEMEXs Chief Financial Officer. We are proud of our track record in working together with our bank group in both good and challenging times.
As part of the amendment to the Facilities Agreement, CEMEX agreed to temporarily limit certain flexibilities related to capital expenditures, acquisitions and share buybacks, among others, which are in line with its previously announced measures to contain the impact of COVID-19. Furthermore, the interest-rate margin grid has been adjusted to accommodate the changes to the consolidated leverage covenant.
CEMEX is a global building materials company that provides high-quality products and reliable services. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future. For more information, please visit: www.cemex.com
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Certain terms used in this press release, such as consolidated leverage ratio, consolidated coverage ratio and interest-rate margin are defined in the Facilities Agreement. This press release contains forward-looking statements that reflect CEMEXs current expectations and projections about future events based on CEMEXs knowledge of present facts and circumstances and assumptions about future events, as well as CEMEXs current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEXs expectations. CEMEX assumes no obligation to update or correct the information contained in this press release. The information contained in this press release is subject to change without notice, and CEMEX is not obligated to publicly update or revise any forward-looking statements. Readers should review future reports filed by CEMEX with the U.S. Securities and Exchange Commission.