CRH plc Launches Two Concurrent Transactions to Manage Debt PortfolioMarch 27, 2018
S&C client CRH plc launched two separate, concurrent transactions to manage its debt portfolio. In the first transaction, CRH America Finance, Inc., a wholly owned finance subsidiary of CRH plc, announced an offering to U.S. qualified institutional buyers in reliance on Rule 144A and to persons outside the United States in reliance on Regulation S of $900 million of 3.950% guaranteed notes due 2028 and $600 million of 4.500% guaranteed notes due 2048, which priced on March 27 and closed on April 4. BNP Paribas Securities Corp., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG Securities Americas Inc., Santander Investment Securities Inc. and SG Americas Securities, LLC acted as joint bookrunners. The notes are listed on the Irish Stock Exchange.
In the second transaction, CRH America, Inc., a separate wholly owned finance subsidiary of CRH plc, commenced a make-whole redemption for its 8.125% notes due July 2018.
The S&C team was led by Kathryn Campbell, along with Walton Dumas, Lauren Pratt and Hana Dhanji. Eric Wang, along with Lauren Citrome advised on tax matters.