By Cristal Cody
Prospect News, Oct. 2 - Holcim Finance (Canada) Inc. (Baa2/BBB/) sold an upsized C$300 million of 3.65% senior fixed-rate notes at 99.936 to yield 3.633% in a private placement on Tuesday, according to an informed bond source.
The notes due April 10, 2018 priced at a spread of 233 basis points over the Government of Canada benchmark, on the tight side of guidance of 235 bps. The deal was upsized from C$250 million.
The notes are redeemable at the Canada bond yield plus 58 bps.
CIBC World Markets Inc. and HSBC Capital (Canada) Inc. were the lead managers.
The company is the Canadian financing arm of Swiss cement manufacturer Holcim Ltd.
| Issuer: | Holcim Finance (Canada) Inc.
|
| Amount: | C$300 million
|
| Maturity: | April 10, 2018
|
| Securities: | Senior notes
|
| Bookrunners: | CIBC World Markets Inc., HSBC Capital (Canada) Inc.
|
| Co-managers: | RBC Capital Markets LLC, Scotia Capital Inc.
|
| Coupon: | 3.65%
|
| Price: | 99.936
|
| Yield: | 3.633%
|
| Spread: | 233 bps over Government of Canada benchmark
|
| Call option: | Canada bond yield plus 58 bps
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 10
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Distribution: | Canada private placement
|
| Price talk: | 235 bps over Government of Canada benchmark
|
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