Germany's HeidelbergCement plans to sell €1 billion minimum three-part note offering Oct. 12 week

By Paul A. Harris

St. Louis, Oct. 13 - HeidelbergCement AG plans to price €1 billion minimum of notes this week, according to market sources

The deal will be comprised of five-year notes, which come with initial guidance of 8%, seven-year notes, with guidance of 8½%, and, in a tranche that was added subsequent to the kickoff of the deal, 10-year notes with guidance of 9¼%.

Tranche sizes remain to be determined.

Deutsche Bank and Royal Bank of Scotland are global coordinators and, along with Bank of America Merrill Lynch and Commerzbank, are joint bookrunners.

Hanson Ltd. is the guarantor of the notes which are to be issued via Regulation S only.

The notes will be non-callable and will feature a make-whole provision.

Proceeds will be used to refinance bank debt.

The prospective issuer is a German cement and building materials company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.