More capital for HeidelbergCement, this time in Swiss francs
HeidelbergCement returned to the bond market today with a Sfr100m (€121m) bond issue, having sold €300m of senior high yield bonds two and a half weeks ago. The Swiss franc deal priced with a 7.25% coupon at the tight end of the 7.25%-7.5% guidance.
It was a great trade, said a banker at sole bookrunner Deutsche Bank, noting that the bond was the first speculative grade issue in Swiss francs by a foreign issuer.
Over 90% of the six year senior unsecured notes were allocated to typical Swiss investors including asset managers and
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