HeidelbergCement issues Eurobond
Published by Lucy Stewardson,
Editorial Assistant
World Cement,
On 19 June 2019, HeidelbergCement priced a Eurobond issue (ISIN XS2018637327) under its €10 billion EMTN programme, with an issuance volume of €750 million and a maturity date of 1 December 2027. The proceeds of the transaction will be used for general corporate purposes and the refinancing of upcoming maturities.
The 8.5 year bond bears a fixed coupon of 1.125%/ year. The issue price is at 99.127%, resulting in a yield to maturity of 1.235%. The joint bookrunners of the transaction are Bank of America Merrill Lynch, Crédit Agricole CIB, Deutsche Bank, ING, LBBW, RBI, SEB, and Standard Chartered Bank.
“We have used the historically favourable interest rate environment and secured with this issue the lowest long-term financing costs in the history of HeidelbergCement,” said Dr Lorenz Näger, Chief Financial Officer. “The bond was 7.5 times oversubscribed, which shows impressively the confidence of the capital market in our company, and our solid financial policy.”
Read the article online at: https://www.worldcement.com/europe-cis/20062019/heidelbergcement-issues-eurobond/
You might also like
Ready to revolutionise the cement industry?
Join World Cement in Lisbon, 10 – 13 March 2024, for our first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
NHOA Group commissions 107 MWh energy storage project for Taiwan Cement Group
NHOA Energy’s 107 MWh battery storage is in full operation and, dispatched with 42 MW of waste-heat-recovery systems combined with 8 MWp solar PV of the cement plant, sits at the core of one of the largest industrial microgrids globally.
