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HeidelbergCement issues Eurobond

Published by , 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.”

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Heidelberg Cement news European cement news Cement news 2018