CEMEX announced recently that it has successfully closed a new $3.25 billion syndicated credit agreement (the “Credit Agreement”) and used the proceeds to fully repay its previous facilities agreement.

The new Credit Agreement consists of a $1.5 billion 5-year amortising Term Loans and a $1.75 billion 5-year committed Revolving Credit Facility. The committed facility is roughly $600 million higher than the previous facilities agreement, resulting in a stronger liquidity position which is favourable from a company risk and credit rating perspective.

“This new Credit Agreement represents a major milestone in our path to investment grade as it is our first major syndicated unsecured bank agreement since 2009. It showcases CEMEX’s continued access to diversified funding sources while further aligning our financing strategy to our leadership in addressing climate change,” said CEMEX CEO Fernando A. Gonzalez. “We are starting a new chapter for the company where we shift our strategic balance a bit more towards growth and the advancement of our Climate Action goals.”