The London-based investment banking unit of Citicorp has arranged a $250 million medium-term note program for Cemex, a Mexican company that is the world's No. 4 cement supplier.

Citicorp Investment Bank Ltd. on Friday launched an initial $150 million issue split into three $50 million tranches with maturities of two, three, and four years. The notes will be marketed in Europe and placed privately in the United States.

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