Xella seeks financial flexibility with Eu300m bond

Xella International, the German building materials, dry lining and lime producer, is offering a Eu300m senior secured bond to refinance debt. The 2018 notes, callable after three years, have a provisional Ba3/B+ rating – in line with Xella’s corporate credit ratings.

  • 23 May 2011

The company, based in Duisburg, resulted from the merger in 2002 of Haniel-Bau Industrie, Ytong and Fels-Werke. It was bought out by PAI Partners and Goldman Sachs Capital Partners in 2008, and is still owned by them.

The company is meeting investors in London, Paris and Frankfurt from Monday ...

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5 SG Corporate & Investment Banking 8,311.04 47 5.64%

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5 Goldman Sachs 2,620.59 22 6.54%

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1 JPMorgan 15,642.64 116 12.03%
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4 Goldman Sachs 10,013.87 71 7.70%
5 Barclays 7,309.82 50 5.62%

Bookrunners of European Corporate IG Bonds

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1 BNP Paribas 13,998.75 62 7.56%
2 Deutsche Bank 13,791.03 42 7.45%
3 Citi 11,544.92 48 6.24%
4 Barclays 10,865.91 47 5.87%
5 JPMorgan 9,678.50 37 5.23%