CC and Slaughters take top roles on $15bn debt refinancing deal
Clifford Chance (CC), Slaughter and May, Skadden Arps Slate Meagher & Flom and Cleary Gottlieb Steen & Hamilton and are among a host of firms to advise on the $15bn (£9.1bn) refinancing of cement producer CEMEX's debt. The company, dual-listed in New York and Mexico, completed the debt restructuring last week (14 August), with the deal involving the agreement of all of the company's participating creditors on debt including syndicated loans, bilateral facilities and US private placement notes.
August 20, 2009 at 10:11 AM
2 minute read
Clifford Chance (CC), Slaughter and May, Skadden Arps Slate Meagher & Flom and Cleary Gottlieb Steen & Hamilton and are among a host of firms to advise on the $15bn (£9.1bn) refinancing of cement producer CEMEX's debt.
The company, dual-listed in New York and Mexico, completed the debt restructuring last week (14 August), with the deal involving the agreement of all of the company's participating creditors on debt including syndicated loans, bilateral facilities and US private placement notes.
In total more than 60 banks and 25 noteholders have been involved in the refinancing, which was completed in less than five months.
Skadden, Slaughters and Uria Menendez worked together to advise CEMEX on New York, UK and Spanish law matters. Skadden fielded a team headed by New York-based corporate finance partners Bob Chilstrom and Harold Moore, while Slaughters' team was led by London corporate finance partners Ian Hodgson and Robert Byk.
Other firms involved for CEMEX include Australia's Allens Arthur Robinson and Ireland's Matheson Ormsby Prentice.
CC worked alongside Cleary in New York to advise BBVA, Banco Santander, BNP Paribas, Citibank, HSBC and RBS as co-ordinators of a committee of lenders. CC's team was co-led by finance partner Malcolm Sweeting and Madrid finance partner Stuart Percival, alongside London restructuring partner Nicholas Frome (pictured), finance partner Malcolm Sweeting and Madrid corporate finance partner Pablo Bieger.
In addition to Cleary, the bank committee also turned to firms including Minter Ellison, A&L Goodbody and Javier Perez Rocha.
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