Holcim successful bond issue

Holcim successful bond issue
Published: 27 March 2009

Holcim Ltd has successfully placed EUR500m of a five-year bond with a coupon of nine per cent and will use proceeds to refinance existing debt and for general corporate purposes.

Holcim said in a statement the bond will increase the weighted average nominal interest rate of financial liabilities by around 0.2 percentage points from 3.8 percent at the end of 2008 and lengthen the average maturity.

It added it has refinanced around SwFR1.7bn (US$1.52bn) in 2009 and successfully maintained its liquidity above the target of SwFr5.3bn including cash and unused committed credit lines.