Lafarge accepts €328.74 million tenders for 5.875%, 5.5%, 4.75% notes

By Sarah Lizee

Olympia, Wash., April 1 – Lafarge SA announced results of the tender offer for any and all of its €198,343,000 outstanding 5.875% notes due July 2019, €357,257,000 outstanding 5.5% notes due December 2019 and €371,224,000 outstanding 4.75% notes due March 2020.

The offer expired at 11 a.m. ET on April 1.

The company said it will accept all of the validly tendered notes for the following prices:

• €54,475,000 of the 5.875% notes at a purchase price of 101.66 plus accrued interest of €43.14 per €1,000 principal amount;

• €119,931,000 of the 5.5% notes for a purchase price of 104.096 plus accrued interest of €16.27 per €1,000 principal amount; and

• €154,336,000 of the 4.75% notes for a purchase price of 104.862 plus accrued interest of €1.43 per €1,000 principal amount.

Following the settlement date, which is expected on April 3, €143,868,000 of the 5.875% notes, €237,326,000 of the 5.5% notes and €216,888,000 of the 4.75% notes will be outstanding.

As previously reported, the price payable per €1,000 principal amount was be determined using a fixed purchase yield of negative 0.35% for the 5.875% notes, negative 0.3% for the 5.5% notes and negative 0.25% for the 4.75% notes.

J.P. Morgan Securities plc (+44 20 7134 2468, attn.: liability management, emea_lm@jpmorgan.com), Morgan Stanley & Co. International plc (+44 20 7677 5040, attn.: liability management group, liabilitymanagementeurope@morganstanley.com) and Natixis (+33 1 58 5508 14 / +33 1 5855 05 56, attn.: liability management, liability.managementcorporate@natixis.com) are acting as joint dealer managers, and Citibank NA, London Branch (+44 20 7508 3867 attn.: exchange team, citiexchanges@citi.com) is acting as tender agent.

Lafarge is a cement company based in Paris.

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