New Issue: LafargeHolcim prices €500 million 3% perpetual notes at 99.41 to yield 3 1/8%

By Paul A. Harris

Portland, Ore., April 2 – LafargeHolcim Ltd., parent of Holcim Finance (Luxembourg) SA, priced a €500 million issue of 3% deeply subordinated perpetual notes (Ba1/BB+) at 99.41 to yield 3 1/8%, according to a market source.

Joint bookrunner HSBC will bill and deliver. BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, MUFG, Natixis and SG CIB were also joint bookrunners.

The Jona, Switzerland-based building materials company plans to use the proceeds for general corporate purposes.

Issuer:	Holcim Finance (Luxembourg) SA
Amount:	€500 million
Maturity:	Perpetual
Securities:	Deeply subordinated perpetual notes
Bookrunners:	HSBC (bill and deliver), BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, MUFG, Natixis, and SG CIB
Coupon:	3%
Price:	99.412
Yield:	3 1/8%
Spread:	Mid-swaps plus 307.4 bps
Step-up date:	July 5, 2024
Call:	Three months prior to step-up date
Settlement date:	April 5
Ratings:	Moody's: Ba1
	S&P: BB+
Distribution:	Regulation S

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