Cemex Paves Way to Local Issue

Cemex has filed for a 4-year MXP30bn domestic bond shelf, according to regulatory documents. The program allows for fixed and floating rate bonds at maturities up to 20 years. BBVA Bancomer is the manager named in the documents. A local certificados bursatiles offering is expected soon, as a part of the Mexican cement maker restructures its financial profile. It has already raised $2.27bn equivalent in dollar and euro bonds since agreeing to extend its bank debt early last year. In December, Cemex sold MXP4.1bn in bonds convertible into CPO shares.