Holcim (Maroc) S.A. has issued a 7-year MAD 1.5 billion bond (CHF 208 million) in the Moroccan capital market with a 5.49 percent coupon p.a. The proceeds will be used to refinance existing debt and for general corporate purposes.
This transaction reflects the financing policy of the Holcim Group to secure liquidity and lengthen the average debt maturity. This and other financings since October 2008 in the total amount of more than CHF 500 million will allow Holcim to again substantially exceed its liquidity target of CHF 5.3 billion (cash and unused committed credit lines) by year-end 2008.
Holcim Ltd is rated by international rating agencies as follows: Standard & Poor's (BBB+, "outlook stable"), Moody's (Baa1, "outlook negative") and Fitch (BBB+, "outlook negative").
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Holcim is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in more than 70 countries on all continents.
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This announcement is for information only and does not constitute an offer to sell, purchase, exchange or transfer any securities or a solicitation of any such offer in the United States, Canada, Australia or Japan or any other jurisdiction.
The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the Securities Act), absent registration or an exemption from registration under the Securities Act. Neither the issuer, the Guarantor (if any) nor any other participant in the transactions described herein intends to register any securities under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with the proposed transactions described in this announcement.
In the member states of the European Economic Area this announcement and the offering are only addressed to and directed at persons who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) (" Qualified Investors"). In addition, in the United Kingdom, this document is being distributed only to and is directed only at Qualified Investors (a) who are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (b) who are high net worth entities falling within Article 49 of the Order, and any other persons to whom it may otherwise lawfully be communicated (all such persons together referred to as "relevant persons"). Any investment or investment activity to which this document relates is available only to (i) in the United Kingdom, relevant persons, and (ii) in any member state of the European Economic Area other than the United Kingdom, Qualified Investors, and will be engaged in only with such persons.
The MAR bonds may not be publicly offered, sold or advertised, directly or indirectly, in or from Switzerland, as such term is defined or interpreted under the Swiss Code of Obligations ("CO") or the Swiss Federal Act on Collective Investment Schemes (" CISA"). Neither this announcement nor any other offering or marketing material relating to the MAR bonds constitutes an offering prospectus within the meaning of article 652a or 1156 of the CO or the CISA nor a listing prospectus within the meaning of the listing rules of the SWX Swiss Exchange. In addition, the MAR bonds do not constitute a participation in a collective investment scheme in the meaning of the CISA and they are neither subject to approval nor supervision by the Swiss Federal Banking Commission. Therefore, investors in the MAR bonds do not benefit from protection under the CISA or supervision by the Swiss Federal Banking Commission or any other regulatory authority in Switzerland.