Holcim Ltd has issued a CHF 1 billion bond with a coupon of four per cent and a tenor of four years and five months. The proceeds will be used to refinance existing debt and for general corporate purposes. The bond will lengthen the average maturity of financial liabilities.
The Holcim Group has refinanced around CHF3.8bn in 2009 in local bank and capital markets and successfully maintained its liquidity above the target of CHF5.3bn (cash and unused committed credit lines).
Holcim Ltd is rated by international rating agencies as follows: Standard & Poor’s (BBB, "outlook stable"), Moody’s (Baa2, "outlook stable") and Fitch (BBB+, "outlook negative").