On December 14, 2009 the External Review Panel of the Credit Derivatives Determinations Committee for the Americas resolved that a Restructuring Credit Event occurred in respect of Cemex S.A.B. de C.V. On December 15, 2009 the Credit Derivatives Determinations Committee resolved that an auction would be held. This page contains details of the DC Resolutions, auction documentation and other items relating to the auction for Cemex S.A.B. de C.V.
Please note that these resolutions do not apply to transactions where the Obligation Category is "Bond".
Further documentation relating to the auction will be added as it becomes available.
Event Publicly Available Information:
On August 14, 2009, Cemex S.A.B. de C.V. ("Cemex") entered into a financing agreement (the "Agreement") to, among other things, defer the date for the payment of principal of U.S.$15.0 billion in bank and private placement obligations [See Prospectus, S-84-86, among other pages; Bloomberg screen shots; Press Conference Call Transcript]. 100% of creditors whose bank debt was subject to the Agreement consented to the Agreement [See Investors Presentation on August 17, 2009, Lorenzo H Zambano Chairman & CEO Presentation, slide 2] and no more than 1.0bn of other bank debt was excluded from the Agreement [see Id. Hector Medina Executive VP, Finance & Legal Presentation, slide 8 (slide 19 overall)]. The borrowings under U.S.$1.2bn Credit Agreement (the "Credit Agreement") dated as of May 31, 2005 [See Credit Agreement and Amendments as included in 20-F filed with SEC on June 30, 2009, June 29, 2007and June 8, 2006, Ex. 4.9] were subject to the Agreement since all Cemex’s credit facilities were fully drawn as of June 30, 2009 [See 20-F filed with SEC on June 30, 2009, p.108], and the Agreement was agreed between Cemex and all lenders in a form that bound all lenders under the Credit Agreement, which at the time of such Agreement comprised of more than three lenders who were not affiliates of each other [See Amendment to Conditional Waiver and Extension Agreement dated as of June 29, 2009, Annex 3; Fifth Amendment to the Credit Agreement dated as of January 22, 2009, signature pages]. Please see Transcript for reference to financial condition. Attachments: Credit Agreement and Amendments (1-5) [extracted from various 20-F filings] Conditional Waiver and Extension Agreement [extracted from 20-F filing] Bloomberg screen shots of the Credit Agreement CEMEX presentation [publicly available on Company's website for limited period] Bloomberg Transcript of CEMEX Press Conference Links: Prospectus 20F filed on June 30, 2009 (includes the Credit Agreement)Amendment No_1 to Conditional Waiver and Extension Agreement: http://www.cdsdeterminationscommittees.org/docs/Amendment No_1 to Conditional Waiver and Extension Agreement.mht Credit Agreement:http://www.cdsdeterminationscommittees.org/docs/Credit Agreement.txt Amendment Number 1:http://www.cdsdeterminationscommittees.org/docs/Amendment No_1.htmAmendment Number 2:http://www.cdsdeterminationscommittees.org/docs/Amendment No_2.htmAmendment Number 3:http://www.cdsdeterminationscommittees.org/docs/Amendment No_3.htmAmendment Number 4:http://www.cdsdeterminationscommittees.org/docs/Amendment_No_ 4_to_1200000000 Term_Credit_Agreement.mhtAmendment Number 5:http://www.cdsdeterminationscommittees.org/docs/Amendment_No_ 5_to_1200000000_Term_Credit_Agreement.mhtScreen 1:http://www.cdsdeterminationscommittees.org/docs/sg2009100932619.gifScreen 2:http://www.cdsdeterminationscommittees.org/docs/sg2009100932686.gifCemex Refinancing Plan Teleconference Transcript:http://www.cdsdeterminationscommittees.org/docs/Cemex M.MHTCemex Refinancing Plan Presentation:http://www.cdsdeterminationscommittees.org/docs/090817_CX_financing_plan_ppt.pdf
|List of Participating Bidders:||List of Participating Bidders|
|FAQs:||Cemex S.A.B. de C.V. FAQs|
|Deliverable Obligations:||Final List|
|Final Auction Terms:||Cemex, S.A.B. de C.V. CDS Auction Settlement Terms|
|Blackline Auction Terms:||Blackline against draft FGIC CDS Auction Settlement Terms|
|Related Press Releases:|