CRH offers to buy back $100m of bond debt

CRH offers to buy back $100m of bond debt
Published: 27 July 2009

CRH Plc is offering to buy back as much as US$100m (€70m) of 6.4pc bonds due 2033 issued by subsidiary CRH America Inc.

Holders of the bond will receive 88pc to 95pc of the notes’ principal amount, CRH said today in a statement. The company is also offering an extra 3pc to investors who accept the proposal before 5pm, New York time, on August 10.

The tender period will end at 11:59pm, New York time, on August 21.

CRH has hired JPMorgan Securities to serve as manager for the tender offer and DF King & Co. as the information and tender agent.

(Bloomberg)