Cemex, S.A.B. (NYSE: CX), the world’s third largest cement maker, has hired five international financial institutions to help it obtain new credit lines and negotiate amendments to its existing credit facilities, according to a Sentido Comun report. 

The banks retained are Banco Bilbao Vizcaya Argentaria (BBVA), HSBC, RBD and Banco Santander. 

The announcment forms part of the company’s efforts to extend the maturity dates on its credit lines and buy time to restructure its operations as revenues decrease amid a possible global recession.  Cemex is also hoping to exchange approximately US$429 million in peso denominated bonds that mature in the next few months for bonds that mature in September 2011.