Valfor with Cemex on Mex$ 5.5 billion notes issuance
Valfor advised Cemex (NYSE: CX) as the building materials and services company completed the issuance of its long-term notes for an aggregate principal amount of $5.5 billion Mexican pesos (approximately US$320 million). The closing of the offering occurred on February 19, 2026.
The Notes consist of $5.5 billion Mexican pesos with a 5-year tenor at a floating annual interest rate of TIIE de Fondeo plus 0.70%. Upon being issued, the Notes are initially guaranteed by Cemex Concretos, S.A. de C.V., Cemex Operaciones México, S.A. de C.V., Cemex Corp. and Cemex Innovation Holding Ltd.
The net proceeds from this issuance will be used for general corporate purposes, including, but not limited to, debt repayment.
Casa de Bolsa Banorte, S.A. de C.V., Grupo Financiero Banorte, Casa de Bolsa BBVA México, S.A. de C.V., Grupo Financiero BBVA México and Scotia Inverlat Casa de Bolsa, S.A. de C.V., Grupo Financiero Scotiabank Inverlat acted as placement intermediaries.
The legal teams
The Valfor team was led by Marc Grüninger and included Markus Bruelhart and Martina Reber (all banking and finance, capital markets).
Valfor worked with Cemex’s in-house counsels in Mexico, Guillermo F. Hernandez, Gabriel Deschamps Saiz, Ana Paula Gonzalez and Alexandra Ruz. Villareal VGF Abogados (Monterrey, Mexico) advised Cemex as to Mexican law.
