HeidelbergCement issues a Eurobond
"The new Eurobond is a great success," says CEO Dr. Bernd Scheifele. "With the 7 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 7 year bond bears a fixed coupon of 3.25% p.a. The issue price is at 99.227%, resulting in a yield to maturity of 3.375%. Sole bookrunner of the transaction is Morgan Stanley.
HeidelbergCement is the global market leader in aggregates and a prominent player in the fields of cement, concrete and other downstream activities, making it one of the world's largest manufacturers of building materials. The company employs some 52,500 people at 2,500 locations in more than 40 countries.