Cemex Sab De Cv Fixed Income Analysis

Recommendation

Given the underlying economics of Cemex’s business operations coupled with their efforts to improve the credit health of the company and their cash generation efforts, we rate the Cemex 7.70% 2025 bond as OVERWEIGHT. The rationale for our view on 2025 is that investors who participate can find comfort in Cemex’s diverse geographic operations and the increased focus by major economies on infrastructure spending.

Industry: Materials
Bond Name CEMEX 2025 7.70%
Credit Rating (Fitch) BB
Maturity July 21, 2025
Issue Size US$149.9 Mn
Rank 1st Lien
Price (Bid/Ask) (Source: Bloomberg) US$106.445/ US$107.064
Yield to Maturity (Bid/Ask) 5.518%/5.317 %
Recommendation Overweight

April 11th, 2022

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