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Cemex to Hit Local Debt Market
Cemex plans to sell up to MXP2bn in 2010 floating-rate notes in the Mexican market, it said in a filing. The AA+ transaction through HSBC is expected in September, and proceeds will repay short-term debt. The sale would be the tenth from a MXP30bn shelf, and follow an April MXP1bn 2010 bond priced at TIIE plus 36bp via ING and Santander.