Skadden, Arps, Slate, Meagher & Flom and Cleary Gottlieb Steen & Hamilton have advised on Mexican cement giant Cemex's $1 billion global bond offering, one of the first emerging market high-yield issuances since COVID-19 was declared a global health pandemic.

Cemex is one of the largest cement and ready-mix concrete companies in the world, with operations in more than 50 countries and annual sales of $13.1 billion in 2019. The 7.375% senior secured notes due in 2027 are guaranteed by subsidiaries in Mexico, the U.S., the U.K., Spain, France, the Netherlands and Switzerland.

Skadden capital markets partner Gregory Fernicola led the deal on behalf of Cemex, while Cleary partners Duane McLaughlin and Manuel Silva represented initial purchasers BBVA, Citigroup, Credit Agricole CIB, J.P. Morgan, BofA Securities, HSBC, ING and Mizuho Securities.