Today Lafarge placed two bonds in separate operations. Under its EMTN(1) program, the Group placed a £350 million bond with an 8-year maturity and fixed annual coupon of 8.75%. In addition, the Group privately placed a bond for a principal amount of €250 million with an 8-year maturity.
These transactions, completed at a competitive yield, contribute to the ongoing optimization of the maturity profile of the Group's debt. In combination with yesterday's announced 1 billion euro bond, the proceeds will further improve the liquidity of the Group and fully repay the tranche A2 Orascom facility, thus eliminating the related covenant.
The settlement and issue of the pound sterling bond is expected on May 29. Barclays, HSBC and RBS acted as joint-lead managers and bookrunners for this bond issue.
Notes to editors
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With more than 84,000 employees in 79 countries, Lafarge posted sales of Euros 19 billion in 2008.
In 2009 and for the fifth year in a row, Lafarge was listed in the ‘Global 100 Most Sustainable Corporations in the World'. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity.
(1) Euro Medium-Term Loan program
