Cemex Prices MXP2.5bn Issue, Femsa on Deck

Mexican building materials provider Cemex priced late Friday a MXP2.5bn UDI-linked local bond issue in two tranches. A MXP2bn 2010 tranche priced at 3.9% and a MXP456m 2017 tranche priced at 4.4%. Despite demand for more, the issue was capped due to an increase in rates during the sale period, according to bankers on the deal. Cemex plans to repay short and long term debt with proceeds. HSBC was the sole bookrunner. Separately, Femsa is due Wednesday with a MXP6bn offering. A MXP2.5bn 2017 UDI-denominated tranche is being prepared by HSBC and Santander, while a MXP3.5bn 2013 floater is coming via BBVA and Scotia.