Lafarge set final terms on a planned eight-year sterling bond at a size of UK£350m (US$54m) and final guidance for a coupon of 8.75 percent, IFR reported on Tuesday.
 
This is Lafarge’s second bond issue in two days, following the sale of a EUR1bn (US$1.4bn) five-year bond on Monday.
 
Barclays, HSBC and Royal Bank of Scotland have been named to manage the sterling issue, which is to include a 125 basis point step-up in its coupon in the event of a downgrade to junk, said IFR Markets, a Thomson Reuters online news and market analysis service.
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