London firms amongst Cemex debt restructuring advisors
19th September 2012
Corporate and finance experts with some of the most senior London legal jobs have ensured the successful restructuring of $7.2 billion worth of debts that were built up by the Mexican building materials and cement producing giants CEMEX.
Many lawyers were instructed by the firm to undertake the much needed protective measures at their offices around the world, including in France, Spain, Britain, and the US. Such far reaching counsel was required by CEMEX because of the incredible complexity of the restructuring package that was settled upon; in total, more than 55 banks and almost 20 private placement noteholders needed to be consulted on the deal that was eventually reached.
This latest action follows similar refinancing measures that were taken by the company roughly three years ago, whereby an estimated $15 billion (£9.8 billion) of debt that had been built up through bilateral loan agreements and syndicated loans was made manageable.