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HeidelbergCement issues a Eurobond with a volume of €750 million

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World Cement,


HeidelbergCement haspriced a Eurobond issue under its €10 billion EMTN programme with an issuance volume of €750 million and a maturity date of 3 June 2024.

The bond was issued at the upper end of the volume and the lower end of the coupon range. Demand was very high; the bond was more than 4 times oversubscribed.

The 8 year bond bears a fixed coupon of 2.25% p.a. The issue price is at 98.963%, resulting in a yield to maturity of 2.394%. These terms are the most attractive HeidelbergCement could ever secure in this maturity segment. Active Bookrunner of the transaction are Banca IMI, Citi, Danske Bank and Deutsche Bank (B&D).

The proceeds will be utilised for general corporate purposes and especially to pre-fund the upcoming Italcementi acquisition. The refinancing needs in the bond market for the Italcementi acquisition are largely covered with this bond issuance.


Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/europe-cis/26052016/heidelbergcement-issues-eurobond-volume-172/

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