Holcim Finance (Luxembourg) S.A. issued a 5-year EUR 500 million bond with a coupon of 9 percent guaranteed by Holcim Ltd. The proceeds will be used to refinance existing debt and for general corporate purposes.
Holcim Finance (Luxembourg) S.A. issued a 5-year EUR 500 million bond with a coupon of 9 percent guaranteed by Holcim Ltd. The proceeds will be used to refinance existing debt and for general corporate purposes. The bond will increase the weighted average nominal interest rate of financial liabilities by around 0.2 percentage points (3.8 percent at year-end 2008) and lengthen the average maturity.
The Holcim Group has refinanced around CHF 1.7 billion in 2009 and successfully maintained its liquidity above the target of CHF 5.3 billion (cash and unused committed credit lines).
Holcim Ltd is rated by international rating agencies as follows: Standard & Poor's (BBB, "outlook stable"), Moody's (Baa1, "under review") 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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