FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Crédit Agricole CIB Leads $3.25B Syndicated Sustainability-Linked Credit Agreement for CEMEX

December 10, 2021, 08:01 AM
Filed Under: Building Supplies

Crédit Agricole CIB acted as Senior Mandated Lead Arranger (SMLA) for a new USD3.25 billion syndicated Credit Agreement under its Sustainability-Linked Financing Framework (the "Framework") for CEMEX, a Mexico-based worldwide leading vertically integrated building materials company. Crédit Agricole CIB at the same time also executed its inaugural Sustainability-Linked Cross-Currency Swap (EURUSD) in the Americas.

The new credit agreement is the first debt offering under CEMEX’s Framework that the company describes as its ultimate vision of a carbon-neutral economy, as well as its first facility under Investment Grade-like Terms and Conditions. CEMEX, a manufacturer and distributor of cement, ready-mix concrete and aggregates, operates in more than 50 countries across five continents.

Crédit Agricole CIB also participated in the execution of a EUR Cross-Currency Swap using the indicators and objectives described in the Framework used for the facility, which benefited from a second party opinion from Sustainalytics. This swap represents the bank’s inaugural Sustainability-Linked Swap in the Americas, and is the first long-dated EURUSD Cross Currency Swap with CEMEX.

"We are proud to support CEMEX’s leadership and dedication to sustainability through their ground-breaking first ever Sustainability-linked Derivative in the Americas. CEMEX is a thought leader in the sustainable financing market, pioneering ambitious transactions," said Romina Reversi, Head of Sustainable Banking for the Americas.

Both transactions underscore CEMEX’s commitment to sustainability and are aligned with the company’s ultimate vision of a carbon-neutral economy.

This is the second strategic transaction in which Crédit Agricole CIB accompanied CEMEX during 2021. Back in January, the bank also acted as Joint Bookrunner on CEMEX’s pricing of U.S.$1.75 billion Senior Secured Notes due 2031 denominated in U.S. Dollars.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.