Those stifling restrictions: Cemex (CX -2.1%) is ready to pay higher debt costs to get out from...

|By:, SA News Editor

Those stifling restrictions: Cemex (CX -2.1%) is ready to pay higher debt costs to get out from under spending limits imposed by bank debt it took on this summer, as part of a renegotiation to avoid default. The company may sell $1B in seven-year notes between 9.5% and 9.75%, well over the bank debt's 6% average.