Holcim Says Morocco Bond Successfully Placed
Holcim Ltd said Monday its unit Holcim (Maroc) S.A. has issued a 7-year bond over CHF208m in the Moroccan capital market with a 5.49% coupon p.a.
The proceeds will be used to refinance existing debt and for general corporate purposes.
This transaction reflects the financing policy of the Holcim Group to secure liquidity and lengthen the average debt maturity. This and other financings since October 2008 in the total amount of more than CHF500 million will allow Holcim to again substantially exceed its liquidity target of CHF5.3bn in cash and unused committed credit lines by year-end 2008.
Published under Cement News
