HeidelbergCement issues a Eurobond

HeidelbergCement issues a Eurobond
22 October 2013


HeidelbergCement yesterday priced a Eurobond issue under its €10bn EMTN programme with an issuance volume of EUR300m and a maturity date of 21 October 2020. The proceeds of the transaction will be used for general corporate purposes.

“The new Eurobond is a great success,” says CEO, Dr Bernd Scheifele. “With the seven year bond, HeidelbergCement could raise capital at more favourable terms for a longer maturity compared to one year ago. This is a clear proof of the improved credit quality of HeidelbergCement. The successful placement is another step on our way to reduce our financing costs through debt reduction and decreasing interest costs.”

The seven year bond bears a fixed coupon of 3.25 per cent per annum. The issue price is at 99.227 per cent, resulting in a yield to maturity of 3.375 per cent. The sole bookrunner of the transaction is Morgan Stanley.

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Tagged Under: HeidelbergCement Germany