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CRH starts tender offers for 4.125% notes due 2016, 6% notes due 2016
New York, May 12 – CRH plc announced separate cash tender offers by its CRH America, Inc. subsidiary for its $350 million of 4.125% notes due 2016 and its $1.25 billion of 6% notes due 2016.
Pricing for both series of notes will be set at 2 p.m. ET on May 18 using a fixed spread over a reference Treasury security.
For the 4.125% notes, the price will be set using the 0.375% Treasury due Jan. 15, 2016 plus 45 basis points.
Pricing for the 6% notes will use the 0.5% Treasury due Sept. 30, 2016 plus 20 bps.
Holders will also receive accrued interest up to but excluding the settlement date.
The tenders end at 11:59 p.m. ET on May 18, and settlement is scheduled for May 21.
Completion of the offers is subject to conditions, including the sale of at least $1 billion of new senior debt securities by CRH America in a public offering.
BofA Merrill Lynch at (888 292-0070, 980 387-3902 or +44 20 7995 2929) is dealer manager for the tender. D.F. King & Co. at (866 864-7964 or 212 269-5550 for banks and brokers) is information and tender agent.
CRH is a supplier of building materials. The parent company is based in Dublin, Ireland, and CRH America is based in Atlanta.
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