Published on 12/3/2013 in the Prospect News High Yield Daily.
New Issue: HeidelbergCement prices €500 million 3¼% notes due 2021 at 99.337 to yield 3 3/8%
By Paul A. Harris
Portland, Ore., Dec. 3 - HeidelbergCement Finance Luxembourg SA priced a €500 million issue of 3¼% senior notes due Oct. 21, 2021 (Ba2//BB+) at 99.337 to yield 3 3/8% on Tuesday, according to a market source.
The yield printed on top of guidance.
Danske Bank, Deutsche Bank AG, London Branch, ING Bank NV and Nordea Bank Danmark A/S were the joint bookrunners.
The Heidelberg, Germany-based building products company plans to use the proceeds for general corporate purposes.
Issuer: | HeidelbergCement Finance Luxembourg SA
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Amount: | €500 million
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Maturity: | Oct. 21, 2021
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Securities: | Senior notes
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Bookrunners: | Danske Bank, Deutsche Bank AG, London Branch, ING Bank NV, Nordea Bank Danmark A/S
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Coupon: | 3¼%
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Price: | 99.337
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Yield: | 3 3/8%
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Spread: | 207 bps
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Call protection: | Non-callable
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Trade date: | Dec. 3
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Settlement date: | Dec. 12
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Ratings: | Moody's: Ba2
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| Fitch: BB+
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Distribution: | Regulation S
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Guidance: | 3 3/8%
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Marketing: | Quick to market
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