HeidelbergCement (HC) has signed a new €3bn ($3.6bn) syndicated credit facility to refinance the existing credit facility. It is designed to provide a 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 company 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.
Dr. Bernd Scheifele, CEO of HC, said “The new syndicated credit facility agreement secures sufficient liquidity back-up for our company at historically attractive conditions until 2025. Thanks to the classification in the Investment Grade we could significantly improve the conditions and documentation of the new credit facility.”
Twenty banks were mandated as bookrunners and Mandated Lead Arrangers in this transaction included Deutsche Bank, Bank of America Merrill Lynch, Barclays, Bayern LB, BNP Paribas, Citigroup, Commerzbank, Crédit Agricole, Danske Bank, Helaba, ING Bank and Intesa Sanpaolo. In addition, It featured JP Morgan, LBBW, Mediobanca, Morgan Stanley, RBI, SEB, Standard Chartered and Svenska Handelsbanken.
