HeidelbergCement signs new five-year €3 billion revolving credit facility

HeidelbergCement has signed a new €3 billion syndicated credit facility to refinance the existing credit facility, which would have expired in February 2019. Taking into account two prolongation options of one-year each, HeidelbergCement was able to secure historically attractive refinancing conditions until 2025. The credit margin was reduced by 20 bps to 35 bps points depending on the leverage. The new multi-currency credit facility is intended as liquidity back-up and can be used for cash drawdowns as
January 15, 2018 Read time: 1 min

674 HeidelbergCement has signed a new €3 billion syndicated credit facility to refinance the existing credit facility, which would have expired in February 2019.

Taking into account two prolongation options of one-year each, HeidelbergCement was able to secure historically attractive refinancing conditions until 2025. The credit margin was reduced by 20 bps to 35 bps points depending on the leverage.

The new multi-currency credit facility is intended as liquidity back-up and can be used for cash drawdowns as well as for letters of credit and guarantees in euro and other currencies.

“The new syndicated credit facility agreement secures sufficient liquidity back-up for our company at historically attractive conditions until 2025,” says Dr Bernd Scheifele, CEO of HeidelbergCement.

“Thanks to the classification in the Investment Grade we could significantly improve the conditions and documentation of the new credit facility.”

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