CRH prices tender offer for 8.125% notes due 2018

By Wendy Van Sickle

Columbus, Ohio, May 8 – CRH plc subsidiary CRH America, Inc. priced its cash tender offer for its $650 million of 8.125% notes due 2018.

The consideration of $1,074.22 per $1,000 of notes was 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%, according to a press release.

The tender opened on May 2 and ends at 11:59 p.m. ET on May 8. Settlement is planned for May 11.

In addition to the amount calculated using the pricing formula, CRH will also pay accrued interest up to but excluding the settlement date.

CRH 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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