Please ensure Javascript is enabled for purposes of website accessibility

People

Big things are happening at Ogier. Change is embedded in everything we do. It is redefining our talent, our ways of working, our platforms of delivery, our culture.

Expertise

Services

We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.

View all services

Business Services Team

View all Business Services Team

Sectors

Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.

View all sectors

Locations

Ogier provides practical advice on BVI, Cayman Islands, Guernsey, Irish, Jersey and Luxembourg law through our global network of offices across the Asian, Caribbean and European timezones. Ogier is the only firm to advise on this unique combination of laws.

News and insights

Keep up to date with industry insights, analysis and reviews. Find out about the work of our expert teams and subscribe to receive our newsletters straight to your inbox.

Fresh thinking, sharper opinion.

About us

We get straight to the point, managing complexity to get to the essentials. Our global network of offices covers every time zone. 

No Content Set
Exception:
Website.Models.ViewModels.Components.General.Banners.BannerComponentVm

Ogier Advises on US$ 3 billion Note Exchange

Deal

20 May 2010

ON THIS PAGE
Save as PDF

Ogier's BVI office has advised CEMEX in relation to the restructuring of certain of its listed securities. CEMEX is one of the world's leading cement and building materials companies and is listed on the New York and Mexican stock exchanges. It had previously issued four series of fixed-to floating rate perpetual debentures raising approximately US$ 3 billion. In April 2010, it made four private offers to the holders of the perpetual debentures to exchange them for new senior secured notes with a fixed maturity date but a lower face value. The exchange was successful and completed on 12, May 2010. As a result of the note exchange, and based on market and exchange rate conditions, CEMEX has reduced its total debt by US$ 437million.

Managing associate Rachael McDonald and senior associate Paul Heath led the Ogier team, in conjunction with partner Ray Wearmouth. US counsel was Sullivan & Cromwell in New York.

The structure of the transaction also involved four BVI restricted purpose vehicles to whom Ogier Fiduciary Services (BVI) Limited provide administrative and professional director services. Ayana Glasgow and Karen Fahie worked on the transaction for OFS.

No Content Set
Exception:
Website.Models.ViewModels.Blocks.SiteBlocks.CookiePolicySiteBlockVm