HeidelbergCement issues a Eurobond with a volume of €750 million
Refinancing needs for Italcementi acquisition largely covered
Today, HeidelbergCement priced a Eurobond issue (ISIN XS1425274484) 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.
About HeidelbergCement
HeidelbergCement is one of the world’s largest integrated manufacturers of building materials with leading market positions in aggregates, cement, and ready-mixed concrete as well as other downstream activities. The company employs some 45,000 people at 2,300 locations in more than 40 countries.
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