HeidelbergCement has priced a Eurobond issue (ISIN XS0985874543) under its €10 billion EMTN (European Medium Term Note) programme with an issuance volume of €300 million and a maturity date of 21 October 2020. The proceeds of the transaction will be used for general corporate purposes.
“The new Eurobond is a great success,” says CEO Dr. Bernd Scheifele.
“With the seven-year bond, HeidelbergCement could raise capital at more favourable terms for a longer maturity compared to one year ago. This is a clear
October 22, 2013
Read time: 1 min
674 HeidelbergCement has priced a Eurobond issue (ISIN XS0985874543) under its €10 billion EMTN (European Medium Term Note) programme with an issuance volume of €300 million and a maturity date of 21 October 2020. The proceeds of the transaction will be used for general corporate purposes.
“The new Eurobond is a great success,” says CEO Dr. Bernd Scheifele.
“With the seven-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 seven-year bond bears a fixed coupon of 3.25%/year. The issue price is at 99.227%, resulting in a yield to maturity of 3.375%.
Sole book-runner of the transaction is 4323 Morgan Stanley.
