The Mexican cement company, Cemex, could issue short term bonds in order to increase its capital work fund.
These bonds would be issued with a maximum term of one year and the rumors are that the placement could be through BVC intermediaries, with the financial endorsement of BBVA Colombia for a total amount of 50.000 million COP$ that could have 6.000 million COP$ of interest payments.
The bonds got F1+ qualification from Fitch Ratings. This qualification stands for short term bonds, which represents a high credit quality with the ability to pay timely their financial debt.
The issuance would have 3 types of bonds divided in Type A with a fixed interest rate, Type B with IBR rate plus spread; and Type C with DTF rate (Spanish acronym for Term Deposit Rate) plus spread.
As we stated before the maximum term for the bond issuance is one year, but an investor also could choose for 180 days term.