Germany’s HeidelbergCement signs new credit facility

HeidelbergCement has signed a new €3 billion syndicated credit facility with a term of five years to refinance the existing credit facility which would have expired in December 2015. The revolving credit line was early refinanced due to favourable market conditions. HeidelbergCement was able to execute the new self-arranged facility with significantly improved terms and conditions. There was massive demand from the banking sector to enter the new facility but HeidelbergCement limited the participation ex

March 3, 2014

674 HeidelbergCement has signed a new €3 billion syndicated credit facility with a term of five years to refinance the existing credit facility which would have expired in December 2015.

The revolving credit line was early refinanced due to favourable market conditions. HeidelbergCement was able to execute the new self-arranged facility with significantly improved terms and conditions. There was massive demand from the banking sector to enter the new facility but HeidelbergCement limited the participation exclusively to the lenders of the former credit facility. 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.

Mandated as bookrunners and mandated lead arrangers in the transaction are 4329 Bank of America Merrill Lynch, BayernLB, 4515 BNP Paribas, 4311 Citigroup, 4312 Commerzbank, 5083 Danske Bank, 4314 Deutsche Bank, 4315 Svenska Handelsbanken, 4316 Helaba, 4317 ING Bank, 4320 Intesa Sanpaolo, 4318 LBBW, 4321 Mediobanca, 4323 Morgan Stanley, 4324 Nordea, 4326 RBI, 4325 RBS, 4327 SEB and 4328 Standard Chartered. 4314 Deutsche Bank is acting as documentation and facility agent.