LafargeHolcim launches Hybrid bond

Published by Lucy Stewardson, Editorial Assistant
World Cement, Monday, 08 April 2019 08:44

LafargeHolcim has successfully settled a €500 million perpetual hybrid bond at an initial fixed coupon of 3% with a non-call period of five years and a quarter. Investors have expressed a strong interest, with a total order book of above €5 billion.

Earlier this week, the group also recorded successful results with its tender offer on three outstanding euro series of notes, bearing interest from 4.75% to 5.875% and maturing from July 2019 to March 2020.

Both transactions reduce the financing costs of the group.

The company has reaffirmed its objective to strengthen its financial structure in line with the ‘financial strength’ value driver of Strategy 2022 – ‘Building for Growth’ and to reach a leverage* (net debt divided by recurring EBITDA) at 2.0 x or less by the end of 2019.

*before IFRS 16 and at constant 2018 FX.

Read the article online at: https://www.worldcement.com/europe-cis/08042019/lafargeholcim-launches-hybrid-bond/

The World Cement Podcast

In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.

Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.