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.
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