CRH holders tender $362.13 million of 8.125% notes due 2018 in offer

By Susanna Moon

Chicago, May 9 – CRH plc said investors had tendered $362.13 million, or 55.71%, of the $650 million 8.125% notes due 2018 issued by wholly owned subsidiary CRH America, Inc.

CRH America expects to settle the tenders on May 11, according to a company update on Tuesday.

As announced, the purchase price is $1,074.22 per $1,000 principal amount, with pricing set at 2 p.m. ET on May 8 using a spread of 50 basis points over the 0.875% Treasury due July 15, 2018 for a yield of 1.228%.

The tender ran from May 2 until 11:59 p.m. ET on May 8.

CRH will also pay accrued interest up to but excluding the settlement date.

The company will use available cash to finance the offer.

Citigroup (800 558-3745 or 212 723-6106), HSBC (888 HSBC-4LM, 212 525-5552 or +44 20 7992 6237), NatWest Markets (203 897-2963) and Wells Fargo Securities (704 410-4760 or 866 309-6316) are dealer managers.

D.F. King & Co., Inc. (866 796-6869, 212 269-5550 or crh@dfking.com) is information agent.

CRH is a Dublin-based supplier of building materials.

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